Atria Investments LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,338 shares of the oil and gas company’s stock after acquiring an additional 1,767 shares during the quarter. Atria Investments LLC’s holdings in Chevron were worth $3,346,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cambria Investment Management L.P. increased its stake in shares of Chevron by 3.2% in the third quarter. Cambria Investment Management L.P. now owns 50,690 shares of the oil and gas company’s stock valued at $5,956,000 after purchasing an additional 1,558 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $1,517,000. Janney Montgomery Scott LLC increased its stake in shares of Chevron by 3.7% in the third quarter. Janney Montgomery Scott LLC now owns 512,029 shares of the oil and gas company’s stock valued at $60,164,000 after purchasing an additional 18,191 shares during the period. Tortoise Investment Management LLC increased its stake in shares of Chevron by 236.7% in the third quarter. Tortoise Investment Management LLC now owns 3,414 shares of the oil and gas company’s stock valued at $401,000 after purchasing an additional 2,400 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Chevron by 4.9% in the third quarter. California Public Employees Retirement System now owns 4,985,694 shares of the oil and gas company’s stock valued at $585,819,000 after purchasing an additional 234,633 shares during the period. Hedge funds and other institutional investors own 64.27% of the company’s stock.
Shares of NYSE:CVX opened at $126.00 on Thursday. The company has a market cap of $234.22 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. The firm had revenue of $37.76 billion during the quarter, compared to analysts’ expectations of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. sell-side analysts anticipate that Chevron Co. will post 8.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 18th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, May 17th. Chevron’s payout ratio is 121.08%.
Several brokerages have commented on CVX. Wells Fargo & Co raised their price target on shares of Chevron from $138.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 12th. They noted that the move was a valuation call. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 price target on the stock in a research note on Wednesday, March 28th. Mizuho began coverage on shares of Chevron in a research note on Friday, June 8th. They issued a “buy” rating and a $145.00 price target on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Barclays raised their price target on shares of Chevron from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.52.
In related news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the sale, the vice president now directly owns 25,500 shares in the company, valued at $3,110,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James William Johnson sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total transaction of $1,229,680.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at approximately $1,229,680. The disclosure for this sale can be found here. Insiders have sold 391,250 shares of company stock valued at $50,351,940 over the last 90 days. 0.46% of the stock is currently owned by insiders.
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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