Liberty One Investment Management LLC Has $6.71 Million Stock Holdings in Chevron Corporation $CVX

Liberty One Investment Management LLC raised its position in Chevron Corporation (NYSE:CVX) by 30.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 43,229 shares of the oil and gas company’s stock after buying an additional 10,213 shares during the period. Liberty One Investment Management LLC’s holdings in Chevron were worth $6,713,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Berkshire Hathaway Inc boosted its holdings in Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after acquiring an additional 3,454,258 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Chevron by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Chevron by 1.9% in the 2nd quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock valued at $2,982,190,000 after purchasing an additional 378,936 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Chevron during the 2nd quarter worth approximately $2,721,477,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $162.36 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company’s 50 day moving average price is $152.48 and its two-hundred day moving average price is $153.68. The company has a market capitalization of $326.91 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 10.19 and a beta of 0.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.48 earnings per share. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Insider Transactions at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 28,334 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $165.05, for a total transaction of $4,676,526.70. Following the completion of the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at $720,608.30. This represents a 86.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 631,990 shares of company stock valued at $99,716,808 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVX. Scotiabank increased their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Morgan Stanley raised their price target on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Citigroup dropped their price objective on Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. BMO Capital Markets reissued an “outperform” rating on shares of Chevron in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $167.14.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.