Kayne Anderson Rudnick Investment Management LLC Has $3.92 Million Position in Chevron Co. (NYSE:CVX)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in Chevron Co. (NYSE:CVX) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,079 shares of the oil and gas company’s stock after selling 1,330 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Chevron were worth $3,922,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVX. Norinchukin Bank The raised its position in shares of Chevron by 8.9% in the fourth quarter. Norinchukin Bank The now owns 91,052 shares of the oil and gas company’s stock valued at $13,188,000 after purchasing an additional 7,442 shares during the period. Ossiam bought a new stake in shares of Chevron during the fourth quarter worth approximately $4,399,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Chevron by 9.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,473 shares of the oil and gas company’s stock worth $12,814,000 after purchasing an additional 7,529 shares during the period. Capital International Inc. CA boosted its stake in Chevron by 11.2% in the 4th quarter. Capital International Inc. CA now owns 119,337 shares of the oil and gas company’s stock valued at $17,285,000 after purchasing an additional 12,000 shares during the period. Finally, Capital World Investors grew its holdings in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after buying an additional 1,440,808 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 3.0 %

Shares of CVX opened at $133.75 on Tuesday. The stock has a market capitalization of $235.48 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a fifty day moving average of $153.12 and a 200-day moving average of $153.33.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company posted $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.50.

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.