London Co. of Virginia Has $301.65 Million Position in Chevron Corporation $CVX

London Co. of Virginia increased its stake in Chevron Corporation (NYSE:CVX) by 27.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,106,634 shares of the oil and gas company’s stock after purchasing an additional 455,826 shares during the period. Chevron accounts for 1.7% of London Co. of Virginia’s portfolio, making the stock its 20th largest holding. London Co. of Virginia owned about 0.12% of Chevron worth $301,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CVX. Berkshire Hathaway Inc boosted its holdings in Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after acquiring an additional 3,454,258 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its position in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Chevron by 1.9% during the 2nd quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after buying an additional 378,936 shares during the period. Finally, Norges Bank bought a new stake in shares of Chevron during the second quarter worth approximately $2,721,477,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Barclays reduced their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. HSBC set a $169.00 target price on Chevron and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Wells Fargo & Company upped their price target on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $166.00.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Chevron Trading Down 0.5%

NYSE CVX opened at $149.95 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The firm has a market cap of $301.93 billion, a P/E ratio of 21.09, a P/E/G ratio of 8.95 and a beta of 0.68. The stock’s 50-day moving average is $152.74 and its 200-day moving average is $151.98.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.48 EPS. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Chevron Profile

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