Intrust Bank NA lifted its stake in Chevron Co. (NYSE:CVX) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,912 shares of the oil and gas company’s stock after acquiring an additional 2,835 shares during the quarter. Chevron makes up 1.3% of Intrust Bank NA’s portfolio, making the stock its 9th biggest holding. Intrust Bank NA’s holdings in Chevron were worth $4,437,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after purchasing an additional 2,356,734 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Chevron by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock worth $2,478,038,000 after purchasing an additional 655,892 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Chevron by 2.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 8,453,505 shares of the oil and gas company’s stock worth $1,058,082,000 after purchasing an additional 234,920 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Chevron by 9.1% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,631,817 shares of the oil and gas company’s stock worth $896,738,000 after purchasing an additional 638,516 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Chevron by 11.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,253,062 shares of the oil and gas company’s stock worth $908,011,000 after purchasing an additional 732,739 shares in the last quarter. 64.27% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on CVX shares. Wells Fargo & Co upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. Royal Bank of Canada reiterated a “hold” rating and issued a $130.00 price objective on shares of Chevron in a report on Friday, April 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $140.00 price objective on shares of Chevron in a report on Monday, April 23rd. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 price objective for the company in a report on Tuesday, April 3rd. Finally, Credit Suisse Group decreased their price objective on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, March 7th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $135.52.
CVX stock opened at $126.43 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88. The stock has a market cap of $240.04 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.11 and a beta of 1.14.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The company had revenue of $37.76 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. equities analysts anticipate that Chevron Co. will post 8.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 11th. Shareholders 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 3.54%. The ex-dividend date of this dividend was Thursday, May 17th. Chevron’s dividend payout ratio (DPR) is 121.08%.
In other news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were 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 of the company’s stock, valued at approximately $603,060. 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. Corporate insiders own 0.38% of the company’s stock.
Chevron Company Profile
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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