Pekin Singer Strauss Asset Management IL Acquires 411 Shares of Chevron Corporation (CVX)

Pekin Singer Strauss Asset Management IL increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,064 shares of the oil and gas company’s stock after purchasing an additional 411 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Chevron Corporation were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CVX. State Street Corp increased its holdings in 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 valued at $12,752,287,000 after buying an additional 1,261,078 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Chevron Corporation by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 8,049,007 shares of the oil and gas company’s stock valued at $839,753,000 after buying an additional 357,051 shares in the last quarter. Boston Partners increased its holdings in 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 valued at $745,659,000 after buying an additional 1,084,757 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Chevron Corporation by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock valued at $614,268,000 after buying an additional 54,154 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its holdings in Chevron Corporation by 10,213.3% in 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 buying an additional 5,653,686 shares in the last quarter. 62.91% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on CVX. Zacks Investment Research raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Friday. Citigroup Inc. lifted their price objective on shares of Chevron Corporation from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $137.00 price objective (up previously from $113.54) on shares of Chevron Corporation in a report on Monday, October 30th. Royal Bank of Canada set a $100.00 target price on shares of Chevron Corporation and gave the company a “sell” rating in a research report on Friday, October 27th. Finally, TheStreet upgraded shares of Chevron Corporation from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $120.63.

Shares of Chevron Corporation (NYSE CVX) opened at $117.18 on Friday. The stock has a market cap of $222,568.66, a P/E ratio of 32.82, a PEG ratio of 3.91 and a beta of 1.22. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $120.89. 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 (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. sell-side analysts anticipate that Chevron Corporation will post 4.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s payout ratio is currently 125.95%.

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In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,041 shares of company stock worth $3,453,285. 0.38% of the stock is owned by insiders.

About Chevron Corporation

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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