Capital Investment Advisory Services LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 9.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,588 shares of the oil and gas company’s stock after purchasing an additional 1,501 shares during the quarter. Chevron accounts for approximately 1.2% of Capital Investment Advisory Services LLC’s investment portfolio, making the stock its 18th largest position. Capital Investment Advisory Services LLC’s holdings in Chevron were worth $1,949,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Pathstone Family Office LLC raised its holdings in shares of Chevron by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after acquiring an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron in the second quarter valued at about $106,000. Winfield Associates Inc. raised its holdings in shares of Chevron by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares in the last quarter. Accurate Investment Solutions Inc. raised its holdings in shares of Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 502 shares in the last quarter. Finally, Daiwa SB Investments Ltd. raised its holdings in shares of Chevron by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 1,140 shares in the last quarter. 63.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Co. (NYSE:CVX) traded down $6.99 during mid-day trading on Friday, hitting $118.58. The stock had a trading volume of 13,181,157 shares, compared to its average volume of 5,890,000. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm has a market cap of $225,230.00, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.37. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. During the same period in the prior year, the company posted $0.22 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. research analysts forecast that Chevron Co. will post 4.34 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.78%. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s payout ratio is presently 125.95%.
Several equities analysts have issued reports on the company. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Friday. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $135.52 price target on the stock in a research note on Monday. Piper Jaffray Companies restated a “buy” rating and set a $153.00 price target on shares of Chevron in a research note on Wednesday, January 24th. Credit Suisse Group restated a “neutral” rating and set a $130.00 price target (up previously from $123.00) on shares of Chevron in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada set a $115.00 price target on Chevron and gave the stock a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $128.89.
In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares in the company, valued at $145,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $116.85, for a total value of $2,716,762.50. The disclosure for this sale can be found here. Insiders have sold 288,500 shares of company stock valued at $33,480,822 over the last quarter. 0.38% of the stock is owned by company insiders.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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