King Luther Capital Management Corp Buys 19,077 Shares of Chevron Co. (CVX)

King Luther Capital Management Corp raised its stake in Chevron Co. (NYSE:CVX) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 820,926 shares of the oil and gas company’s stock after acquiring an additional 19,077 shares during the period. King Luther Capital Management Corp’s holdings in Chevron were worth $100,383,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in shares of Chevron during the third quarter valued at approximately $141,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Chevron during the third quarter valued at approximately $144,000. O Brien Wealth Partners LLC raised its holdings in shares of Chevron by 4,389.3% during the third quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 1,229 shares in the last quarter. Atlantic Trust LLC raised its holdings in shares of Chevron by 54.7% during the second quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock valued at $186,000 after acquiring an additional 520 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in Chevron in the third quarter worth $188,000. Hedge funds and other institutional investors own 64.62% of the company’s stock.

NYSE CVX opened at $123.53 on Thursday. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $131.08. The firm has a market capitalization of $228.13 billion, a PE ratio of 14.97, a P/E/G ratio of 4.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 1st. The oil and gas company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Chevron had a return on equity of 9.82% and a net margin of 8.91%. The firm had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 6.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 15th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Thursday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 annualized dividend and a dividend yield of 3.85%. Chevron’s dividend payout ratio (DPR) is 57.70%.

In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $112.20, for a total transaction of $532,950.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $532,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now directly owns 7,200 shares in the company, valued at $838,800. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Several equities research analysts recently weighed in on the company. Barclays reaffirmed an “overweight” rating and issued a $150.00 price target (up from $140.00) on shares of Chevron in a research note on Wednesday. Tudor Pickering assumed coverage on Chevron in a research note on Friday, March 1st. They issued a “buy” rating and a $133.00 price target on the stock. Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Cowen reaffirmed an “outperform” rating and issued a $140.00 price target (down from $160.00) on shares of Chevron in a research note on Thursday, February 28th. Finally, Mizuho reissued a “buy” rating and issued a $140.00 target price on shares of Chevron in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $134.18.

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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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