Chevron Co. (NYSE:CVX) Shares Purchased by Huber Capital Management LLC

Huber Capital Management LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 62.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 62,200 shares of the oil and gas company’s stock after purchasing an additional 23,900 shares during the period. Chevron accounts for approximately 1.7% of Huber Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Huber Capital Management LLC’s holdings in Chevron were worth $6,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Vanguard Group Inc. grew its holdings in Chevron by 3.5% in the second quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock valued at $16,915,716,000 after purchasing an additional 5,427,422 shares during the period. BlackRock Inc. grew its holdings in Chevron by 3.3% in the second quarter. BlackRock Inc. now owns 136,355,706 shares of the oil and gas company’s stock valued at $14,281,898,000 after purchasing an additional 4,339,477 shares during the period. Liberty Wealth Management LLC lifted its position in Chevron by 10,559.1% during the second quarter. Liberty Wealth Management LLC now owns 3,513,656 shares of the oil and gas company’s stock valued at $33,546,000 after buying an additional 3,480,692 shares in the last quarter. Morgan Stanley lifted its position in Chevron by 13.9% during the first quarter. Morgan Stanley now owns 21,789,121 shares of the oil and gas company’s stock valued at $2,283,280,000 after buying an additional 2,666,433 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in Chevron during the second quarter valued at approximately $125,336,000. Institutional investors and hedge funds own 65.78% of the company’s stock.

NYSE CVX traded up $1.20 on Thursday, reaching $108.99. The company had a trading volume of 386,911 shares, compared to its average volume of 10,551,904. The stock’s 50 day moving average is $99.98 and its 200-day moving average is $102.94. The stock has a market cap of $210.78 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 2.85 and a beta of 1.32. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. Chevron Co. has a 52 week low of $65.16 and a 52 week high of $113.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.12. Chevron had a return on equity of 3.89% and a net margin of 3.01%. The company had revenue of $37.60 billion during the quarter, compared to the consensus estimate of $35.98 billion. During the same period in the prior year, the company earned ($1.59) earnings per share. The company’s revenue for the quarter was up 169.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 6.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $5.36 annualized dividend and a dividend yield of 4.92%. Chevron’s dividend payout ratio is currently -2,680.00%.

Several brokerages have recently weighed in on CVX. Mizuho upped their target price on shares of Chevron from $127.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 7th. Redburn Partners upgraded shares of Chevron from a “neutral” rating to a “buy” rating in a research note on Thursday, July 22nd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $127.00 to $112.00 in a research note on Thursday, July 22nd. BMO Capital Markets assumed coverage on shares of Chevron in a research note on Monday, July 12th. They set an “outperform” rating and a $123.00 price objective on the stock. Finally, Royal Bank of Canada decreased their target price on shares of Chevron from $135.00 to $130.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 25th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Buy” and a consensus price target of $119.00.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

See Also: Growth and Income Funds

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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