OLD Dominion Capital Management Inc. Has $1.12 Million Holdings in Chevron Co. (CVX)

OLD Dominion Capital Management Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 15.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,530 shares of the oil and gas company’s stock after selling 1,793 shares during the period. Chevron accounts for 1.1% of OLD Dominion Capital Management Inc.’s holdings, making the stock its 20th biggest position. OLD Dominion Capital Management Inc.’s holdings in Chevron were worth $1,120,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC increased its position in shares of Chevron by 2.5% during the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after purchasing an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Chevron during the second quarter worth $106,000. Winfield Associates Inc. increased its position in shares of Chevron by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares in the last quarter. Accurate Investment Solutions Inc. increased its position in shares of Chevron by 59.1% during the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its position in shares of Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 64.06% of the company’s stock.

Shares of Chevron Co. (NYSE CVX) opened at $112.30 on Friday. The firm has a market capitalization of $218,978.81, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.88.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. Chevron’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. equities analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 89.07%.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction 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 approximately $2,067,994.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael K. Wirth sold 110,771 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the sale, the executive vice president now directly owns 110,771 shares in the company, valued at $12,868,267.07. The disclosure for this sale can be found here. Insiders have sold a total of 287,271 shares of company stock worth $33,335,800 over the last ninety days. 0.38% of the stock is owned by insiders.

Several research firms recently issued reports on CVX. Jefferies Group reissued a “buy” rating and issued a $137.00 target price (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Goldman Sachs Group downgraded Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Friday, November 10th. Citigroup upped their target price on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $129.84.

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Chevron 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 (NYSE:CVX)

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