Payden & Rygel raised its holdings in Chevron Co. (NYSE:CVX) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,450 shares of the oil and gas company’s stock after acquiring an additional 900 shares during the period. Payden & Rygel’s holdings in Chevron were worth $4,988,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in CVX. Cornerstone Wealth Management LLC raised its holdings in shares of Chevron by 12,404.4% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock valued at $15,598,000 after buying an additional 1,922,552 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Chevron by 9,968.8% during the 1st quarter. Summit Trail Advisors LLC now owns 1,145,531 shares of the oil and gas company’s stock valued at $1,146,000 after buying an additional 1,134,154 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Chevron by 87.0% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,633,900 shares of the oil and gas company’s stock valued at $186,330,000 after buying an additional 760,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Chevron by 74.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,567,260 shares of the oil and gas company’s stock valued at $198,149,000 after buying an additional 667,960 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Chevron during the 1st quarter valued at about $74,364,000. 64.66% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on CVX shares. Goldman Sachs Group restated a “buy” rating and set a $141.00 price target on shares of Chevron in a research report on Tuesday, July 31st. HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Piper Jaffray Companies restated an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Finally, ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Eight research analysts have rated the stock with a hold rating, sixteen have assigned 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 $138.13.
In other news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the sale, the insider now directly owns 4,750 shares in the company, valued at approximately $569,857.50. The sale was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by company insiders.
Shares of CVX stock opened at $118.94 on Tuesday. The company has a market capitalization of $219.84 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.12. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.05. The firm had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. Chevron had a return on equity of 8.24% and a net margin of 8.79%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Research analysts forecast that Chevron Co. will post 8.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.77%. Chevron’s dividend payout ratio is currently 121.08%.
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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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