Gabelli Funds LLC Has $62.16 Million Position in Chevron Corporation (CVX)

Gabelli Funds LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 595,800 shares of the oil and gas company’s stock after purchasing an additional 21,500 shares during the quarter. Gabelli Funds LLC’s holdings in Chevron Corporation were worth $62,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC grew its position in Chevron Corporation by 10,213.3% during the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after acquiring an additional 5,653,686 shares during the period. State Street Corp boosted its position in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after buying an additional 1,261,078 shares during the period. Boston Partners boosted its position in shares of Chevron Corporation by 17.9% in the second quarter. Boston Partners now owns 7,147,113 shares of the oil and gas company’s stock worth $745,659,000 after buying an additional 1,084,757 shares during the period. First Trust Advisors LP boosted its position in shares of Chevron Corporation by 204.4% in the second quarter. First Trust Advisors LP now owns 1,373,511 shares of the oil and gas company’s stock worth $143,298,000 after buying an additional 922,316 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in shares of Chevron Corporation in the first quarter worth about $77,388,000. Hedge funds and other institutional investors own 63.15% of the company’s stock.

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Shares of Chevron Corporation (CVX) opened at $114.72 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $120.89. The stock has a market capitalization of $217,900.00, a price-to-earnings ratio of 32.13, a PEG ratio of 3.83 and a beta of 1.22.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period last year, the company earned $0.68 earnings per share. Chevron Corporation’s quarterly revenue was up 20.1% compared to the same quarter last year. sell-side analysts expect that Chevron Corporation will post 4.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.77%. Chevron Corporation’s dividend payout ratio is 125.95%.

Several equities research analysts have recently weighed in on the company. Credit Suisse Group set a $123.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Barclays PLC raised Chevron Corporation to an “overweight” rating in a report on Wednesday, October 11th. BMO Capital Markets set a $120.00 price target on Chevron Corporation and gave the company a “buy” rating in a report on Sunday, July 30th. Vetr downgraded Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price target for the company. in a report on Monday, October 16th. Finally, Zacks Investment Research raised Chevron Corporation from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Chevron Corporation currently has an average rating of “Hold” and a consensus price target of $120.54.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares in the company, valued at $145,022. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,122 shares of company stock valued at $7,433,361. 0.38% of the stock is owned by corporate insiders.

Chevron Corporation Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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