Bank of New York Mellon Corp Has $2.21 Billion Position in Chevron Co. (NYSE:CVX)

Bank of New York Mellon Corp reduced its stake in shares of Chevron Co. (NYSE:CVX) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,329,126 shares of the oil and gas company’s stock after selling 902,990 shares during the quarter. Chevron comprises about 0.7% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 21st biggest position. Bank of New York Mellon Corp owned 1.06% of Chevron worth $2,211,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Taylor Cottrill Erickson & Associates Inc. lifted its stake in Chevron by 0.5% in the 4th 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 in the last quarter. Bingham Osborn & Scarborough LLC increased its holdings in shares of Chevron by 0.5% during the 4th quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock worth $1,988,000 after buying an additional 92 shares during the last quarter. Unison Advisors LLC increased its holdings in shares of Chevron by 0.9% during the 4th quarter. Unison Advisors LLC now owns 10,873 shares of the oil and gas company’s stock worth $1,183,000 after buying an additional 96 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of Chevron by 0.5% during the 4th quarter. Bogart Wealth LLC now owns 18,554 shares of the oil and gas company’s stock worth $2,018,000 after buying an additional 97 shares during the last quarter. Finally, Private Vista LLC increased its holdings in shares of Chevron by 1.1% during the 4th quarter. Private Vista LLC now owns 9,191 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 99 shares during the last quarter. 65.39% of the stock is currently owned by hedge funds and other institutional investors.

CVX has been the subject of a number of recent analyst reports. Mizuho restated a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Wednesday, March 6th. Barclays lifted their target price on shares of Chevron from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised shares of Chevron to a “sector perform” rating and set a $145.00 price target for the company in a research report on Wednesday, March 6th. Morgan Stanley started coverage on shares of Chevron in a research report on Monday, April 1st. They issued an “overweight” rating and a $146.00 price target for the company. Finally, Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, April 12th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Chevron presently has an average rating of “Buy” and a consensus target price of $135.26.

In related news, Director Enrique Hernandez, Jr. sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the transaction, the director now owns 15,689 shares of the company’s stock, valued at $1,916,097.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total transaction of $255,675.00. Following the transaction, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The disclosure for this sale can be found here. Insiders sold 44,800 shares of company stock worth $5,604,221 in the last ninety days. Insiders own 0.31% of the company’s stock.

NYSE CVX traded up $0.40 during trading on Monday, reaching $124.84. The company’s stock had a trading volume of 5,524,160 shares, compared to its average volume of 7,149,143. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $128.55. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average is $120.76. The firm has a market capitalization of $237.03 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.13. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The company had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 7.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 57.70%.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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