Duff & Phelps Investment Management Co. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,435 shares of the oil and gas company’s stock after selling 430 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Chevron were worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisors Capital Management LLC boosted its holdings in shares of Chevron by 6.2% during the 4th quarter. Advisors Capital Management LLC now owns 6,705 shares of the oil and gas company’s stock valued at $839,000 after purchasing an additional 394 shares during the last quarter. Norris Perne & French LLP MI boosted its holdings in shares of Chevron by 8.0% during the 4th quarter. Norris Perne & French LLP MI now owns 5,597 shares of the oil and gas company’s stock valued at $701,000 after purchasing an additional 416 shares during the last quarter. Cedar Capital LLC boosted its holdings in shares of Chevron by 13.2% during the 4th quarter. Cedar Capital LLC now owns 3,593 shares of the oil and gas company’s stock valued at $450,000 after purchasing an additional 418 shares during the last quarter. Cibc Bank USA boosted its holdings in shares of Chevron by 1.8% during the 4th quarter. Cibc Bank USA now owns 23,147 shares of the oil and gas company’s stock valued at $2,899,000 after purchasing an additional 420 shares during the last quarter. Finally, Sky Investment Group LLC boosted its holdings in shares of Chevron by 1.3% during the 4th quarter. Sky Investment Group LLC now owns 34,113 shares of the oil and gas company’s stock valued at $4,271,000 after purchasing an additional 440 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on CVX. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a report on Wednesday, June 13th. Mizuho began coverage on shares of Chevron in a report on Friday, June 8th. They set a “buy” rating and a $145.00 price objective for the company. Credit Suisse Group increased their price objective on shares of Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, April 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $140.00 price target on shares of Chevron in a report on Monday, April 23rd. Finally, Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 price target for the company in a report on Tuesday, April 3rd. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $135.52.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $126.96, for a total transaction of $603,060.00. Following the transaction, the executive vice president now directly owns 4,750 shares in the company, valued at $603,060. The disclosure for this sale can be found here. In the last three months, insiders sold 391,250 shares of company stock valued at $50,351,940. 0.38% of the stock is owned by insiders.
Shares of Chevron opened at $122.61 on Tuesday, according to Marketbeat. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $238.97 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.10 and a beta of 1.14. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.45. The business had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. sell-side analysts predict that Chevron Co. will post 8.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 18th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, May 17th. Chevron’s payout ratio is currently 121.08%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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