Chevron Co. (NYSE:CVX) Position Raised by Foresters Investment Management Company Inc.

Foresters Investment Management Company Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 92.2% in the 4th quarter, Holdings Channel reports. The firm owned 500,150 shares of the oil and gas company’s stock after acquiring an additional 239,950 shares during the quarter. Chevron comprises approximately 1.0% of Foresters Investment Management Company Inc.’s investment portfolio, making the stock its 11th largest holding. Foresters Investment Management Company Inc.’s holdings in Chevron were worth $54,411,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in shares of Chevron by 3.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,479 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 86 shares during the last quarter. Sun Life Financial INC raised its stake in shares of Chevron by 0.6% during the fourth quarter. Sun Life Financial INC now owns 14,056 shares of the oil and gas company’s stock worth $1,529,000 after purchasing an additional 88 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its stake in shares of Chevron by 0.5% during the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock worth $1,967,000 after purchasing an additional 90 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in shares of Chevron by 1.4% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 6,641 shares of the oil and gas company’s stock worth $722,000 after purchasing an additional 91 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC raised its stake in shares of Chevron by 0.5% during the fourth quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock worth $1,988,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 65.44% of the company’s stock.

Shares of CVX stock opened at $120.19 on Thursday. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $128.55. The firm has a market cap of $230.80 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.45 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The firm had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Chevron’s quarterly revenue was down 6.8% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 7.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 57.70%.

Several research firms have recently commented on CVX. Citigroup began coverage on Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 price target for the company. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Monday, April 29th. Royal Bank of Canada upgraded Chevron to a “sector perform” rating and set a $145.00 price target for the company in a research note on Wednesday, March 6th. Morgan Stanley began coverage on Chevron in a research note on Monday, April 1st. They set an “overweight” rating and a $146.00 price target for the company. Finally, Barclays upped their price target on Chevron from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $135.42.

In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $125.60, for a total value of $596,600.00. Following the sale, the insider now owns 4,750 shares of the company’s stock, valued at $596,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total value of $512,946.00. Following the completion of the sale, the director now directly owns 15,689 shares in the company, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. Insiders have sold 11,050 shares of company stock worth $1,365,221 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: “Chevron Co. (NYSE:CVX) Position Raised by Foresters Investment Management Company Inc.” was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.chaffeybreeze.com/2019/06/13/chevron-co-nysecvx-position-raised-by-foresters-investment-management-company-inc.html.

About Chevron

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.

Recommended Story: Bear Market

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.