Pioneer Trust Bank N A OR reduced its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 47,842 shares of the oil and gas company’s stock after selling 585 shares during the period. Chevron accounts for about 2.9% of Pioneer Trust Bank N A OR’s portfolio, making the stock its 9th biggest position. Pioneer Trust Bank N A OR’s holdings in Chevron were worth $5,989,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Vanguard Group Inc. raised its position 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 worth $14,567,210,000 after acquiring an additional 3,920,240 shares in the last quarter. Capital World Investors raised its position 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 worth $3,708,603,000 after acquiring an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC raised its position 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 worth $337,050,000 after acquiring an additional 2,810,928 shares in the last quarter. First Eagle Investment Management LLC raised its position 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 worth $307,042,000 after acquiring an additional 2,612,270 shares in the last quarter. Finally, BlackRock Inc. raised its position 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 worth $13,007,759,000 after acquiring an additional 1,975,865 shares in the last quarter. Institutional investors and hedge funds own 64.96% of the company’s stock.
CVX stock opened at $114.50 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.83 and a current ratio of 1.03. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88. The firm has a market capitalization of $217,558.72, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. During the same period last year, the firm earned $0.22 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. equities research analysts forecast that Chevron Co. will post 6.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.91%. 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 payout ratio is 92.37%.
Several brokerages have commented on CVX. Credit Suisse Group dropped their price target on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 7th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.61 to $138.00 in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Vetr cut shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target on the stock. in a research report on Monday, February 26th. Finally, BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $130.00.
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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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