Vident Investment Advisory LLC acquired a new position in Chevron Co. (NYSE:CVX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,658 shares of the oil and gas company’s stock, valued at approximately $665,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Shine Investment Advisory Services Inc. purchased a new stake in Chevron during the 2nd quarter valued at $106,000. Acrospire Investment Management LLC raised its stake in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 800 shares during the last quarter. Accurate Investment Solutions Inc. raised its stake in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 502 shares during the last quarter. Ffcm LLC raised its stake in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 822 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Chevron during the 2nd quarter valued at $160,000. Institutional investors own 64.10% of the company’s stock.
A number of brokerages have weighed in on CVX. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price for the company. in a research note on Thursday, January 11th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Morgan Stanley boosted their target price on shares of Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $130.00 target price (up from $123.00) on shares of Chevron in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and an average price target of $130.30.
Chevron Co. (CVX) opened at $112.59 on Friday. The firm has a market cap of $215,075.39, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.21 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88.
Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion during 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%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 EPS. analysts expect that Chevron Co. will post 6.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 annualized dividend and a yield of 3.98%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is currently 92.37%.
In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.
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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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