Carret Asset Management LLC Sells 1,694 Shares of Chevron Co. (CVX)

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Carret Asset Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 90,575 shares of the oil and gas company’s stock after selling 1,694 shares during the period. Chevron comprises approximately 1.9% of Carret Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Carret Asset Management LLC’s holdings in Chevron were worth $11,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Live Your Vision LLC lifted its stake in shares of Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares in the last quarter. Litman Gregory Asset Management LLC raised its holdings in shares of Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 975 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its holdings in shares of Chevron by 20,716.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after purchasing an additional 1,243 shares during the last quarter. Shine Investment Advisory Services Inc. raised its holdings in shares of Chevron by 45.4% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 462 shares during the last quarter. Finally, First National Bank of Hutchinson purchased a new stake in shares of Chevron in the second quarter valued at about $200,000. 64.66% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $119.97, for a total transaction of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at $569,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

NYSE CVX opened at $118.94 on Tuesday. Chevron Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. The stock has a market cap of $219.84 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.01 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.24%. The business had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 8.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.77%. Chevron’s dividend payout ratio (DPR) is presently 121.08%.

Several brokerages have recently commented on CVX. Berenberg Bank began coverage on shares of Chevron in a report on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price for the company. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $150.00 to $135.00 in a report on Thursday, September 6th. Barclays increased their target price on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Goldman Sachs Group reiterated a “buy” rating and issued a $141.00 target price on shares of Chevron in a report on Tuesday, July 31st. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and an average price target of $138.13.

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About Chevron

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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Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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