First Allied Advisory Services Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,365 shares of the oil and gas company’s stock after purchasing an additional 1,096 shares during the period. First Allied Advisory Services Inc.’s holdings in Chevron were worth $8,847,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. United Bank boosted its holdings in shares of Chevron by 1.4% during the 2nd quarter. United Bank now owns 15,606 shares of the oil and gas company’s stock valued at $1,628,000 after purchasing an additional 211 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Chevron by 4.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 71,583 shares of the oil and gas company’s stock valued at $7,468,000 after purchasing an additional 2,808 shares during the last quarter. Telemus Capital LLC boosted its holdings in shares of Chevron by 43.0% during the 2nd quarter. Telemus Capital LLC now owns 4,069 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 1,224 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Chevron by 5.1% during the 2nd quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after purchasing an additional 72,173 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its holdings in shares of Chevron by 1.8% during the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 129,118 shares of the oil and gas company’s stock valued at $13,471,000 after purchasing an additional 2,339 shares during the last quarter. 64.10% of the stock is owned by institutional investors.
Several research analysts have commented on CVX shares. Jefferies Group reissued a “buy” rating and set a $140.00 price objective on shares of Chevron in a report on Wednesday, December 20th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Tuesday, October 31st. Citigroup increased 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. Bank of America set a $125.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Saturday, December 2nd. Finally, Scotiabank reaffirmed a “buy” rating and issued a $130.00 price target on shares of Chevron in a report on Friday, December 22nd. Two 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. The stock has a consensus rating of “Buy” and an average price target of $130.30.
In other news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.
Shares of Chevron Co. (NYSE CVX) opened at $112.59 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88. The firm has a market cap of $215,075.39, a PE ratio of 23.21, a P/E/G ratio of 2.21 and a beta of 1.15.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities research analysts predict that Chevron Co. will post 6.32 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date is Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.98%. Chevron’s dividend payout ratio (DPR) is 92.37%.
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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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