Tdam USA Inc. Decreases Holdings in Chevron Co. (CVX)

Tdam USA Inc. trimmed its holdings in Chevron Co. (NYSE:CVX) by 28.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,370 shares of the oil and gas company’s stock after selling 33,415 shares during the quarter. Tdam USA Inc.’s holdings in Chevron were worth $9,796,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new position in Chevron in the 2nd quarter worth approximately $106,000. Winfield Associates Inc. lifted its stake in Chevron by 5.1% in the 2nd 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. Acrospire Investment Management LLC lifted its stake in Chevron by 133.3% in the 2nd 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. Accurate Investment Solutions Inc. increased its holdings in shares of Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares during the last quarter. Finally, Ffcm LLC increased its holdings in shares of Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares during the last quarter. 64.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Chevron Co. (NYSE:CVX) opened at $112.30 on Friday. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market cap of $218,978.81, a P/E ratio of 23.15, a P/E/G ratio of 2.26 and a beta of 1.15.

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

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

In related news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the completion of the sale, the chief financial officer now owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders sold a total of 287,271 shares of company stock valued at $33,335,800 in the last quarter. 0.38% of the stock is owned by insiders.

CVX has been the subject of a number of recent analyst reports. Jefferies Group restated a “buy” rating and set a $137.00 price target (up previously from $113.54) on shares of Chevron in a report on Monday, October 30th. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Friday, November 10th. Citigroup raised their price target on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and an average price target of $129.84.

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About Chevron

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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