Sawgrass Asset Management LLC Has $1.39 Million Stock Position in Chevron Co. (NYSE:CVX)

Sawgrass Asset Management LLC grew its stake in Chevron Co. (NYSE:CVX) by 18.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,883 shares of the oil and gas company’s stock after buying an additional 1,406 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Chevron were worth $1,389,000 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. Portside Wealth Group LLC raised its position in Chevron by 0.5% in the 2nd quarter. Portside Wealth Group LLC now owns 18,298 shares of the oil and gas company’s stock valued at $2,862,000 after buying an additional 92 shares during the last quarter. TriaGen Wealth Management LLC raised its holdings in shares of Chevron by 1.2% in the second quarter. TriaGen Wealth Management LLC now owns 12,267 shares of the oil and gas company’s stock valued at $1,919,000 after purchasing an additional 150 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Chevron by 3.2% in the second quarter. Miracle Mile Advisors LLC now owns 26,331 shares of the oil and gas company’s stock worth $4,119,000 after purchasing an additional 824 shares in the last quarter. Kennedy Investment Group boosted its holdings in Chevron by 8.5% during the second quarter. Kennedy Investment Group now owns 1,858 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 145 shares during the last quarter. Finally, Winthrop Advisory Group LLC boosted its holdings in Chevron by 7.9% during the second quarter. Winthrop Advisory Group LLC now owns 4,301 shares of the oil and gas company’s stock worth $673,000 after purchasing an additional 316 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CVX. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Barclays cut their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.47 during trading hours on Friday, reaching $147.27. 6,874,416 shares of the stock were exchanged, compared to its average volume of 7,882,654. The stock’s fifty day simple moving average is $153.82 and its 200 day simple moving average is $155.92. The firm has a market capitalization of $271.41 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Company 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.