Schmidt P J Investment Management Inc. Has $7.07 Million Position in Chevron Co. (CVX)

Schmidt P J Investment Management Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,902 shares of the oil and gas company’s stock after selling 1,332 shares during the period. Chevron accounts for 2.1% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 9th biggest position. Schmidt P J Investment Management Inc.’s holdings in Chevron were worth $7,068,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stellar Capital Management LLC grew its stake in shares of Chevron by 1.9% in the first quarter. Stellar Capital Management LLC now owns 21,011 shares of the oil and gas company’s stock worth $2,397,000 after acquiring an additional 401 shares during the last quarter. South Street Advisors LLC grew its stake in shares of Chevron by 5.1% in the first quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock worth $968,000 after acquiring an additional 410 shares during the last quarter. Chase Investment Counsel Corp grew its stake in shares of Chevron by 25.4% in the first quarter. Chase Investment Counsel Corp now owns 2,074 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 420 shares during the last quarter. Concentric Wealth Management LLC boosted its position in shares of Chevron by 1.9% during the first quarter. Concentric Wealth Management LLC now owns 23,656 shares of the oil and gas company’s stock valued at $2,698,000 after buying an additional 432 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its position in shares of Chevron by 0.9% during the first quarter. Cornercap Investment Counsel Inc. now owns 49,002 shares of the oil and gas company’s stock valued at $5,588,000 after buying an additional 440 shares during the last quarter. 64.77% of the stock is currently owned by institutional investors.

CVX stock opened at $121.13 on Monday. Chevron Co. has a fifty-two week low of $108.02 and a fifty-two week high of $133.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. The stock has a market capitalization of $232.10 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.13 and a beta of 1.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The firm had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. equities analysts predict that Chevron Co. will post 8.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, August 16th. Chevron’s dividend payout ratio is 121.08%.

In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $124.20, for a total value of $589,950.00. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $589,950. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

CVX has been the topic of several recent analyst reports. Wells Fargo & Co increased their price objective on Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. ValuEngine cut Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Mizuho initiated coverage on Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 price objective on the stock. Macquarie cut Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, July 3rd. Finally, Royal Bank of Canada set a $150.00 price objective on Chevron and gave the company a “hold” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Chevron has a consensus rating of “Buy” and an average price target of $138.42.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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