State of Wisconsin Investment Board lifted its position in shares of Chevron Co. (NYSE:CVX) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,392,259 shares of the oil and gas company’s stock after buying an additional 205,428 shares during the quarter. Chevron makes up about 0.8% of State of Wisconsin Investment Board’s holdings, making the stock its 16th largest position. State of Wisconsin Investment Board owned about 0.13% of Chevron worth $281,090,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CVX. Vanguard Group Inc. grew its holdings in Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the period. BlackRock Inc. grew its holdings in Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the period. Capital World Investors grew its holdings in Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the period. Northern Trust Corp lifted its stake in shares of Chevron by 0.6% in the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after purchasing an additional 157,021 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Chevron by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after purchasing an additional 49,083 shares in the last quarter. 64.06% of the stock is owned by institutional investors and hedge funds.
In other news, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $116.85, for a total value of $2,716,762.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the sale, the chief financial officer now owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,500 shares of company stock worth $33,480,822. 0.38% of the stock is currently owned by corporate insiders.
Shares of Chevron Co. (NYSE CVX) traded down $5.96 on Monday, hitting $112.62. The company’s stock had a trading volume of 15,302,258 shares, compared to its average volume of 6,180,000. Chevron Co. has a one year low of $102.55 and a one year high of $133.88. The firm has a market cap of $213,910.00, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. analysts anticipate that Chevron Co. will post 6.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio is presently 89.26%.
Several equities analysts have recently weighed in on CVX shares. Barclays lifted their price objective on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Wolfe Research raised Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $124.92 price objective on the stock. in a research note on Monday, October 16th. Macquarie raised Chevron from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Tuesday, October 17th. Finally, BMO Capital Markets lowered Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 price objective on the stock. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $129.61.
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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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