Minneapolis Portfolio Management Group LLC Grows Position in Chevron Co. (CVX)

Minneapolis Portfolio Management Group LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,124 shares of the oil and gas company’s stock after purchasing an additional 3,828 shares during the quarter. Chevron comprises 3.2% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 19th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Chevron were worth $23,551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares in the last quarter. Capital World Investors boosted its holdings in Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Chevron by 669.9% in the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after acquiring an additional 2,810,928 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Chevron by 305,886.4% in the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock worth $307,042,000 after acquiring an additional 2,612,270 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after acquiring an additional 1,975,865 shares in the last quarter. Institutional investors own 64.98% of the company’s stock.

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Several equities research analysts have commented on CVX shares. Goldman Sachs downgraded Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Credit Suisse Group decreased their price target on Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, March 7th. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $117.38 price target for the company in a research note on Tuesday. HSBC cut Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Scotiabank restated a “buy” rating and issued a $130.00 price target on shares of Chevron in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $129.79.

Chevron stock opened at $117.29 on Friday. The firm has a market cap of $218,685.78, a P/E ratio of 28.06, a PEG ratio of 2.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83. Chevron Co. has a one year low of $102.55 and a one year high of $133.88.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. research analysts anticipate that Chevron Co. will post 6.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is 121.08%.

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Chevron Profile

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 (NYSE:CVX)

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