Todays Report: The Stillwater Investment Management LLC Increases Position in Chevron Corp. (CVX)

The Stillwater Investment Management LLC Increases Position in Chevron Corp. (CVX)

Stillwater Investment Management LLC boosted its stake in shares of Chevron Corp. (NYSE:CVX) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,381 shares of the company’s stock after buying an additional 25 shares during the period. Stillwater Investment Management LLC’s holdings in Chevron Corp. were worth $245,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock valued at $13,087,581,000 after buying an additional 2,824,724 shares during the period. FMR LLC raised its position in Chevron Corp. by 0.5% in the second quarter. FMR LLC now owns 49,878,624 shares of the company’s stock valued at $5,228,775,000 after buying an additional 250,410 shares during the period. Capital World Investors raised its position in Chevron Corp. by 0.8% in the second quarter. Capital World Investors now owns 40,135,747 shares of the company’s stock valued at $4,207,430,000 after buying an additional 321,100 shares during the period. BlackRock Fund Advisors raised its position in Chevron Corp. by 6.5% in the second quarter. BlackRock Fund Advisors now owns 32,652,251 shares of the company’s stock valued at $3,422,935,000 after buying an additional 1,983,103 shares during the period. Finally, BlackRock Group LTD raised its position in Chevron Corp. by 2.2% in the second quarter. BlackRock Group LTD now owns 15,955,818 shares of the company’s stock valued at $1,672,648,000 after buying an additional 340,354 shares during the period. Hedge funds and other institutional investors own 62.30% of the company’s stock.

Chevron Corp. (NYSE:CVX) remained flat at $111.00 during trading on Friday. The company’s stock had a trading volume of 3,238,554 shares. The stock’s market cap is $209.54 billion. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $111.47. The firm has a 50 day moving average of $105.01 and a 200 day moving average of $102.70.

Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.29. Chevron Corp. had a positive return on equity of 0.59% and a negative net margin of 1.34%. The business had revenue of $30.14 billion for the quarter, compared to analyst estimates of $29.71 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, analysts forecast that Chevron Corp. will post $1.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.89%. This is a positive change from Chevron Corp.’s previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, November 16th. Chevron Corp.’s payout ratio is presently -540.00%.

CVX has been the topic of several analyst reports. Goldman Sachs Group Inc. upgraded Chevron Corp. from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Monday, October 31st. Vetr downgraded Chevron Corp. from a “buy” rating to a “hold” rating and set a $110.71 price target for the company. in a report on Tuesday, November 8th. Morgan Stanley raised Chevron Corp. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $113.00 to $130.00 in a report on Tuesday, November 1st. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a report on Monday, October 10th. Finally, Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price target for the company in a report on Monday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Chevron Corp. currently has a consensus rating of “Buy” and a consensus price target of $108.61.

In related news, Director Linnet F. Deily sold 5,637 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total value of $593,406.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pierre R. Breber sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the sale, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

About Chevron Corp.

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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