TD Asset Management Inc. Buys 114,711 Shares of Chevron Co. (NYSE:CVX)

TD Asset Management Inc. grew its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,060,455 shares of the oil and gas company’s stock after buying an additional 114,711 shares during the period. TD Asset Management Inc. owned 0.21% of Chevron worth $476,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. F3Logic LLC increased its position in shares of Chevron by 3.4% in the third quarter. F3Logic LLC now owns 32,134 shares of the oil and gas company’s stock worth $3,271,000 after purchasing an additional 1,048 shares during the last quarter. CastleArk Alternatives LLC bought a new position in shares of Chevron in the third quarter worth approximately $1,834,000. Zacks Investment Management increased its position in shares of Chevron by 2.9% in the third quarter. Zacks Investment Management now owns 854,830 shares of the oil and gas company’s stock worth $86,723,000 after purchasing an additional 24,107 shares during the last quarter. Invesco Ltd. increased its position in shares of Chevron by 16.0% in the third quarter. Invesco Ltd. now owns 13,482,487 shares of the oil and gas company’s stock worth $1,367,797,000 after purchasing an additional 1,859,425 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its position in shares of Chevron by 6.2% in the third quarter. Parsons Capital Management Inc. RI now owns 70,681 shares of the oil and gas company’s stock worth $7,171,000 after purchasing an additional 4,126 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Several research firms recently weighed in on CVX. Cowen upped their price objective on shares of Chevron from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, March 3rd. Zacks Investment Research lowered Chevron from a “strong-buy” rating to a “hold” rating and set a $176.00 target price for the company. in a research note on Tuesday, March 29th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Wednesday, March 2nd. Royal Bank of Canada lowered Chevron from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $160.00 to $165.00 in a research note on Thursday, April 21st. Finally, StockNews.com began coverage on Chevron in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $163.09.

In other news, CFO Pierre R. Breber sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $132.90, for a total value of $2,458,650.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Colin E. Parfitt sold 15,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $132.91, for a total transaction of $2,060,105.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 373,048 shares of company stock worth $56,163,028. Insiders own 0.32% of the company’s stock.

CVX traded up $1.53 during trading on Tuesday, reaching $160.78. The stock had a trading volume of 11,573,320 shares, compared to its average volume of 15,584,021. The stock’s 50 day moving average is $164.67 and its two-hundred day moving average is $137.82. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $315.90 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 0.86 and a beta of 1.09. Chevron Co. has a one year low of $92.86 and a one year high of $174.76.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.09. The firm had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company’s revenue was up 69.8% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, equities research analysts predict that Chevron Co. will post 17.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Thursday, May 19th will be issued a $1.42 dividend. The ex-dividend date is Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.53%. Chevron’s dividend payout ratio (DPR) is presently 53.38%.

Chevron Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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