Chevron Co. (NYSE:CVX) Holdings Lifted by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC increased its position in Chevron Co. (NYSE:CVX) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,384 shares of the oil and gas company’s stock after buying an additional 5,431 shares during the quarter. Chevron comprises about 5.3% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest position. Castle Rock Wealth Management LLC’s holdings in Chevron were worth $15,378,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Morgan Stanley increased its holdings in Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after purchasing an additional 3,711,923 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 76.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock valued at $3,839,241,000 after purchasing an additional 10,257,980 shares in the last quarter. Norges Bank acquired a new stake in Chevron in the 4th quarter valued at $3,058,235,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Chevron by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock valued at $2,421,958,000 after purchasing an additional 948,045 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now owns 1,718 shares in the company, valued at approximately $276,391.84. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $167.22 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $160.80 and its two-hundred day moving average price is $160.15. Chevron Co. has a 52-week low of $140.46 and a 52-week high of $189.68. The stock has a market capitalization of $312.24 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The firm had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. During the same quarter last year, the company posted $5.82 earnings per share. Chevron’s revenue was down 28.9% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 13.23 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. Chevron’s dividend payout ratio (DPR) is presently 38.30%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and increased their price target for the company from $161.00 to $170.00 in a report on Wednesday, May 31st. Mizuho raised their target price on Chevron from $209.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com started coverage on Chevron in a research note on Thursday, August 17th. They set a “hold” rating for the company. UBS Group raised their target price on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, HSBC raised their target price on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.61.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.