Gateway Investment Advisers LLC decreased its position in Chevron Co. (NYSE:CVX) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,076,764 shares of the oil and gas company’s stock after selling 34,944 shares during the quarter. Chevron comprises about 1.1% of Gateway Investment Advisers LLC’s holdings, making the stock its 13th largest position. Gateway Investment Advisers LLC owned 0.06% of Chevron worth $134,800,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Acrospire Investment Management LLC grew its holdings in Chevron by 133.3% in 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 period. Accurate Investment Solutions Inc. grew its holdings in Chevron by 59.1% in 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 period. Ffcm LLC grew its holdings in Chevron by 121.1% in 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 period. Mountain Capital Investment Advisors Inc purchased a new stake in Chevron in the 2nd quarter valued at about $160,000. Finally, Intellectus Partners LLC grew its holdings in Chevron by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock valued at $162,000 after buying an additional 15 shares during the period. 65.04% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on CVX. Vetr cut Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a report on Thursday, January 11th. HSBC cut Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Morgan Stanley lifted their price target on Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Zacks Investment Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $130.00 target price (up previously from $123.00) on shares of Chevron in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Chevron presently has an average rating of “Buy” and an average price target of $130.00.
Chevron Co. (NYSE:CVX) opened at $115.40 on Friday. The firm has a market capitalization of $220,787.05, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83.
Chevron (NYSE:CVX) last released its quarterly earnings results 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). The company had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 EPS. equities analysts forecast that Chevron Co. will post 6.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is currently 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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