Corundum Group Inc. Buys 4,698 Shares of Chevron Co. (NYSE:CVX)

Corundum Group Inc. raised its holdings in Chevron Co. (NYSE:CVX - Free Report) by 113.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,854 shares of the oil and gas company's stock after purchasing an additional 4,698 shares during the period. Corundum Group Inc.'s holdings in Chevron were worth $1,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Fairscale Capital LLC bought a new stake in shares of Chevron during the second quarter valued at about $100,000. Discovery Capital Management LLC CT bought a new position in shares of Chevron in the second quarter valued at approximately $30,705,000. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Commonwealth Financial Services LLC increased its holdings in Chevron by 2.9% during the 2nd quarter. Commonwealth Financial Services LLC now owns 3,359 shares of the oil and gas company's stock worth $518,000 after acquiring an additional 96 shares during the period. Finally, Certified Advisory Corp lifted its stake in Chevron by 6.1% in the 2nd quarter. Certified Advisory Corp now owns 17,211 shares of the oil and gas company's stock worth $2,692,000 after purchasing an additional 985 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 2.0 %

Shares of CVX traded down $3.31 during trading hours on Tuesday, hitting $158.16. The company had a trading volume of 10,127,118 shares, compared to its average volume of 8,066,192. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average price is $154.03 and its 200 day moving average price is $151.04. The firm has a market cap of $284.23 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 EPS. On average, research analysts predict that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. Chevron's dividend payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James boosted their price objective on Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.27.

Chevron 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.