Synovus Financial Corp raised its holdings in shares of Chevron Co. (NYSE:CVX) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,860 shares of the oil and gas company’s stock after buying an additional 3,885 shares during the period. Synovus Financial Corp’s holdings in Chevron were worth $23,060,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CVX. Benedict Financial Advisors Inc. lifted its position in Chevron by 1.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 30,713 shares of the oil and gas company’s stock worth $3,171,000 after buying an additional 401 shares in the last quarter. Bank of Stockton lifted its position in Chevron by 35.1% in the 2nd quarter. Bank of Stockton now owns 18,342 shares of the oil and gas company’s stock worth $1,913,000 after buying an additional 4,766 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in Chevron by 8.7% in the 2nd quarter. Essex Investment Management Co. LLC now owns 11,575 shares of the oil and gas company’s stock worth $1,208,000 after buying an additional 931 shares in the last quarter. Eliot Finkel Investment Counsel LLC lifted its position in Chevron by 58.4% in the 2nd quarter. Eliot Finkel Investment Counsel LLC now owns 45,285 shares of the oil and gas company’s stock worth $4,725,000 after buying an additional 16,695 shares in the last quarter. Finally, Hartford Financial Management Inc. lifted its position in Chevron by 3.7% in the 2nd quarter. Hartford Financial Management Inc. now owns 24,673 shares of the oil and gas company’s stock worth $2,574,000 after buying an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.
In other news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.
A number of research firms have issued reports on CVX. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price for the company. in a research report on Thursday, January 11th. Credit Suisse Group began coverage on shares of Chevron in a report on Monday, December 11th. They set a “neutral” rating and a $123.00 price target on the stock. Jefferies Group restated a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Wednesday, December 20th. Citigroup raised their price target on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Cowen restated an “outperform” rating and set a $160.00 price target (up previously from $122.00) on shares of Chevron in a report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $130.30.
Chevron Co. (NYSE:CVX) opened at $110.98 on Wednesday. The company has a market cap of $210,790.00, a PE ratio of 29.36, a PEG ratio of 2.20 and a beta of 1.15. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. 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 (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. Chevron’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. research analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.04%. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 118.52%.
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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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