RNC Capital Management LLC raised its position in Chevron Co. (NYSE:CVX) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 366,473 shares of the oil and gas company’s stock after purchasing an additional 492 shares during the period. Chevron comprises about 3.2% of RNC Capital Management LLC’s investment portfolio, making the stock its 6th largest position. RNC Capital Management LLC’s holdings in Chevron were worth $45,879,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Beach Investment Management LLC. acquired a new position in shares of Chevron during the 2nd quarter valued at about $2,588,000. QV Investors Inc. increased its stake in shares of Chevron by 1.1% during the 2nd quarter. QV Investors Inc. now owns 286,165 shares of the oil and gas company’s stock valued at $29,855,000 after acquiring an additional 3,190 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Chevron by 2.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 890,515 shares of the oil and gas company’s stock valued at $92,907,000 after acquiring an additional 17,711 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp increased its stake in shares of Chevron by 3.6% during the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 9,015 shares of the oil and gas company’s stock valued at $941,000 after acquiring an additional 311 shares during the last quarter. Finally, Dupont Capital Management Corp increased its position in Chevron by 11.0% during the 2nd quarter. Dupont Capital Management Corp now owns 290,785 shares of the oil and gas company’s stock worth $30,338,000 after purchasing an additional 28,926 shares in the last quarter. Institutional investors own 64.98% of the company’s stock.
A number of analysts recently issued reports on CVX shares. Vetr downgraded shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price for the company. in a research report on Monday, February 26th. Royal Bank of Canada set a $110.00 target price on shares of Chevron and gave the stock a “sell” rating in a research report on Wednesday, December 20th. Wells Fargo dropped their target price on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. Chevron currently has an average rating of “Buy” and an average price target of $129.79.
NYSE:CVX traded down $2.53 during trading hours on Friday, hitting $114.76. The stock had a trading volume of 7,094,466 shares, compared to its average volume of 6,380,933. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a market capitalization of $224,053.58, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.31 and a beta of 1.16.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. equities analysts anticipate that Chevron Co. will post 6.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.12 per share. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is 121.08%.
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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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