Villere ST Denis J & Co. LLC Has $40.36 Million Position in Chevron Corporation $CVX

Key Points

• Villere ST Denis J & Co. LLC cut its Chevron stake by 4.1% in the first quarter, but Chevron remains its largest holding at 4.5% of the portfolio, worth about $40.36 million.
• Chevron reported Q1 EPS of $1.41, topping analyst expectations, though revenue of $47.56 billion came in below estimates and was down from the prior-year quarter’s earnings level.
• Insider activity and sentiment were mixed: director John B. Hess sold 380,000 shares, while analysts still hold a Moderate Buy consensus and Chevron continues to pay a 4.0% dividend yield.

Villere ST Denis J & Co. LLC trimmed its stake in Chevron Corporation (NYSE:CVX - Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,089 shares of the oil and gas company's stock after selling 8,298 shares during the quarter. Chevron makes up about 4.5% of Villere ST Denis J & Co. LLC's portfolio, making the stock its biggest holding. Villere ST Denis J & Co. LLC's holdings in Chevron were worth $40,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Dakota Wealth Management raised its stake in Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after acquiring an additional 10,822 shares during the period. Clear Trail Advisors LLC bought a new position in Chevron during the fourth quarter worth $10,167,000. Curtis Advisory Group LLC acquired a new position in shares of Chevron in the fourth quarter valued at $1,381,000. Indivisible Partners bought a new position in shares of Chevron in the fourth quarter valued at about $1,923,000. Finally, Focus Partners Wealth raised its position in shares of Chevron by 3.2% in the third quarter. Focus Partners Wealth now owns 1,444,281 shares of the oil and gas company's stock valued at $224,278,000 after purchasing an additional 45,017 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Sanford C. Bernstein lowered their price target on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a report on Monday, May 11th. Zacks Research cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, Mizuho lifted their price target on Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $206.83.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.56% of the company's stock.

Chevron Stock Performance

NYSE:CVX traded up $2.24 during mid-day trading on Friday, reaching $176.29. 5,984,338 shares of the company's stock were exchanged, compared to its average volume of 9,284,713. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The firm has a market capitalization of $351.10 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50. The business's fifty day simple moving average is $181.92 and its two-hundred day simple moving average is $181.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron's payout ratio is presently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron's Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

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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