O Domhnaill Enterprises Inc. Invests $2.50 Million in Chevron Corporation $CVX

Key Points

• O Domhnaill Enterprises Inc. initiated a new position in Chevron during the first quarter, buying 12,070 shares valued at about $2.5 million. The stake represents roughly 2.0% of the fund’s portfolio.
• Chevron continues to attract major institutional interest, with large holders like State Street, Berkshire Hathaway, and others increasing or adding positions. Overall, 72.42% of Chevron’s stock is owned by institutional investors and hedge funds.
• Chevron’s shares traded at $172.33 in the latest session, while analysts maintain a Moderate Buy consensus with an average price target of $205.71. The company also recently reported quarterly EPS of $1.41, beating expectations, and paid a quarterly dividend of $1.78 per share.

O Domhnaill Enterprises Inc. purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 12,070 shares of the oil and gas company's stock, valued at approximately $2,497,000. Chevron comprises 2.0% of O Domhnaill Enterprises Inc.'s portfolio, making the stock its 21st biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. State Street Corp lifted its position in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc grew its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC raised its stake in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock worth $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock worth $5,492,377,000 after acquiring an additional 961,341 shares during the period. Finally, Norges Bank bought a new position in Chevron in the fourth quarter worth about $3,727,586,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company's stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVX shares. Zacks Research downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Barclays increased their price target on Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 26th. TD Cowen raised their price target on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, UBS Group restated a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Chevron Stock Performance

CVX stock traded up $4.23 on Tuesday, reaching $172.33. The company's stock had a trading volume of 1,627,531 shares, compared to its average volume of 11,593,914. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a market capitalization of $343.21 billion, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 0.57 and a beta of 0.50. The firm has a fifty day moving average of $183.31 and a two-hundred day moving average of $180.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $2.18 EPS. As a group, analysts predict that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron's payout ratio is currently 123.40%.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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