HRT Financial LLC Acquires New Stake in Chevron Co. (CVX)

HRT Financial LLC acquired a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,247 shares of the oil and gas company’s stock, valued at approximately $1,282,000. Chevron comprises 1.3% of HRT Financial LLC’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently bought and sold shares of CVX. Retirement Systems of Alabama boosted its stake in Chevron by 13.7% in the third quarter. Retirement Systems of Alabama now owns 1,198,067 shares of the oil and gas company’s stock worth $140,773,000 after buying an additional 144,182 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Chevron by 305,886.4% in the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock worth $307,042,000 after buying an additional 2,612,270 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in Chevron in the third quarter worth approximately $218,000. Cambiar Investors LLC purchased a new stake in Chevron in the third quarter worth approximately $222,000. Finally, CIBC Asset Management Inc boosted its stake in Chevron by 4.2% in the third quarter. CIBC Asset Management Inc now owns 249,513 shares of the oil and gas company’s stock worth $29,318,000 after buying an additional 10,092 shares in the last quarter. Institutional investors own 64.42% of the company’s stock.

In related news, EVP Joseph C. Geagea sold 12,000 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $129.00, for a total value of $1,548,000.00. Following the completion of the sale, the executive vice president now owns 13,233 shares of the company’s stock, valued at $1,707,057. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $130.41, for a total value of $3,260,250.00. The disclosure for this sale can be found here. Insiders sold 377,000 shares of company stock valued at $48,519,200 in the last ninety days. 0.38% of the stock is currently owned by insiders.

CVX has been the subject of several research reports. Vetr lowered Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price for the company. in a research note on Monday, February 26th. Wells Fargo & Co cut their target price on Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley upped their target price on Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Bank of America raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $113.61 to $138.00 in a research note on Wednesday, February 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $131.92.

Shares of CVX stock opened at $128.70 on Thursday. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88. The firm has a market capitalization of $244.95 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.43 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company had revenue of $37.76 billion during the quarter, compared to analyst estimates of $40.34 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. sell-side analysts anticipate that Chevron Co. will post 7.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is 121.08%.

Chevron Company Profile

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

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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