Bbva Compass Bancshares Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,865 shares of the oil and gas company’s stock after selling 2,800 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Chevron were worth $5,801,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. ARGI Investment Services LLC increased its holdings in shares of Chevron by 16.7% in the first quarter. ARGI Investment Services LLC now owns 6,593 shares of the oil and gas company’s stock valued at $752,000 after buying an additional 944 shares in the last quarter. Covenant Asset Management LLC increased its holdings in shares of Chevron by 44.9% in the first quarter. Covenant Asset Management LLC now owns 4,648 shares of the oil and gas company’s stock valued at $530,000 after buying an additional 1,440 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Chevron by 8.2% in the first quarter. Granite Investment Partners LLC now owns 38,545 shares of the oil and gas company’s stock valued at $4,396,000 after buying an additional 2,935 shares in the last quarter. Olstein Capital Management L.P. increased its holdings in shares of Chevron by 77.8% in the first quarter. Olstein Capital Management L.P. now owns 32,000 shares of the oil and gas company’s stock valued at $3,649,000 after buying an additional 14,000 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its holdings in shares of Chevron by 1.0% in the first quarter. Virginia Retirement Systems ET AL now owns 796,416 shares of the oil and gas company’s stock valued at $90,823,000 after buying an additional 7,884 shares in the last quarter. 64.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CVX opened at $124.73 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.88. The firm has a market cap of $237.35 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.08 and a beta of 1.13.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, beating the 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 business had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same period in the previous year, the company posted $1.23 EPS. Chevron’s revenue was up 13.0% on a year-over-year basis. sell-side analysts forecast that Chevron Co. will post 8.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 11th. Stockholders of record on Friday, May 18th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Thursday, May 17th. Chevron’s dividend payout ratio is currently 121.08%.
In other news, EVP James William Johnson sold 4,750 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $603,060. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 25,500 shares in the company, valued at $3,110,235. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 391,250 shares of company stock worth $50,351,940. 0.46% of the stock is currently owned by corporate insiders.
CVX has been the topic of several research reports. Raymond James raised Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. ValuEngine raised Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. Credit Suisse Group dropped their price target on Chevron from $129.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, March 7th. Wells Fargo & Co upped their price target on Chevron from $138.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, April 12th. They noted that the move was a valuation call. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $135.77.
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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