Day & Ennis LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,879 shares of the oil and gas company’s stock after selling 1,606 shares during the quarter. Day & Ennis LLC’s holdings in Chevron were worth $808,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Vanguard Group Inc. lifted its holdings in Chevron by 2.9% in the second 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. Capital World Investors lifted its holdings in Chevron by 9.8% in the second 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. Janus Henderson Group PLC lifted its holdings in Chevron by 669.9% in the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after buying an additional 2,810,928 shares during the period. First Eagle Investment Management LLC lifted its holdings in Chevron by 305,886.4% in the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after buying an additional 2,612,270 shares during the period. Finally, BlackRock Inc. lifted its holdings in Chevron by 1.6% in the second 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. 64.10% of the stock is currently owned by institutional investors and hedge funds.
CVX has been the topic of several analyst reports. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Royal Bank of Canada set a $100.00 target price on shares of Chevron and gave the stock a “sell” rating in a report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and issued a $137.00 target price (up from $113.54) on shares of Chevron in a report on Monday, October 30th. Citigroup increased their target price on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $130.30.
In other news, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael K. Wirth sold 110,771 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the sale, the executive vice president now directly owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
Shares of Chevron Co. (CVX) opened at $112.14 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.88. The stock has a market cap of $212,995.78, a price-to-earnings ratio of 27.49, a PEG ratio of 2.20 and a beta of 1.15.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The company had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same period in the prior year, the company earned $0.22 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. research analysts expect that Chevron Co. will post 6.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 annualized dividend and a dividend yield of 4.00%. Chevron’s dividend payout ratio is currently 92.37%.
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Chevron Company Profile
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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