Gould Asset Management LLC CA lowered its position in Chevron Co. (NYSE:CVX) by 17.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,905 shares of the oil and gas company’s stock after selling 403 shares during the period. Gould Asset Management LLC CA’s holdings in Chevron were worth $217,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Chevron by 1.9% during the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after acquiring an additional 2,356,734 shares during the period. Geode Capital Management LLC raised its holdings in shares of Chevron by 3.4% during the 4th 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 acquiring an additional 655,892 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Chevron by 2.9% during the 4th 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 acquiring an additional 234,920 shares during the period. Boston Partners raised its holdings in shares of Chevron by 2.4% during the 1st quarter. Boston Partners now owns 7,482,304 shares of the oil and gas company’s stock worth $853,282,000 after acquiring an additional 175,360 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Chevron by 11.2% during the 4th 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 acquiring an additional 732,739 shares during the period. Institutional investors own 64.28% of the company’s stock.
In other Chevron news, EVP Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $130.41, for a total value of $3,260,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 130,000 shares of Chevron stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $128.00, for a total value of $16,640,000.00. Following the completion of the transaction, the chief executive officer now directly owns 130,000 shares of the company’s stock, valued at $16,640,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 391,250 shares of company stock valued at $50,351,940. 0.38% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on CVX shares. Wells Fargo & Co lifted their price target on 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 set a $130.00 price target on shares of Chevron in a report on Friday, April 13th. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $117.38 price target on the stock in a report on Tuesday, April 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Monday, April 23rd. Finally, Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target on the stock in a report on Wednesday, June 13th. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and an average target price of $135.77.
NYSE CVX opened at $124.14 on Friday. The stock has a market capitalization of $238.27 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.09 and a beta of 1.13. 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 1-year low of $102.55 and a 1-year high of $133.88.
Chevron (NYSE:CVX) last released its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. Chevron’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. sell-side analysts forecast that Chevron Co. will post 8.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 18th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, May 17th. Chevron’s dividend 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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