Cypress Capital Group raised its holdings in shares of Chevron Co. (NYSE:CVX) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,540 shares of the oil and gas company’s stock after purchasing an additional 1,381 shares during the period. Cypress Capital Group’s holdings in Chevron were worth $2,724,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Morgan Stanley raised its position in Chevron by 3.8% during the 2nd quarter. Morgan Stanley now owns 16,986,164 shares of the oil and gas company’s stock valued at $2,147,560,000 after purchasing an additional 626,514 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Chevron by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,217,173 shares of the oil and gas company’s stock valued at $1,671,000,000 after purchasing an additional 190,647 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Chevron by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 8,933,341 shares of the oil and gas company’s stock valued at $1,129,443,000 after purchasing an additional 204,547 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Chevron by 0.4% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock valued at $869,505,000 after purchasing an additional 31,022 shares during the last quarter. Finally, Standard Life Aberdeen plc raised its position in Chevron by 78.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock valued at $858,547,000 after purchasing an additional 2,994,612 shares during the last quarter. 64.67% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:CVX opened at $115.49 on Friday. Chevron Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The company has a market capitalization of $224.02 billion, a PE ratio of 31.21, a PEG ratio of 2.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. The company had revenue of $43.99 billion for the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. Equities research analysts forecast that Chevron Co. will post 8.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $1.12 dividend. The ex-dividend date is Thursday, November 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.88%. Chevron’s payout ratio is currently 121.08%.
A number of research analysts have commented on the company. Royal Bank of Canada set a $150.00 price target on Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Berenberg Bank started coverage on Chevron in a research report on Tuesday, September 11th. They set a “hold” rating and a $135.00 price target for the company. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $150.00 to $135.00 in a research report on Thursday, September 6th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Monday, October 1st. Finally, Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Seven investment 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 company. The company presently has a consensus rating of “Buy” and an average target price of $139.13.
In related news, insider James William Johnson sold 4,750 shares of the company’s 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 owns 4,750 shares in the company, valued at approximately $569,857.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 23,750 shares of company stock worth $2,821,833 in the last 90 days. 0.38% of the stock is currently owned by company insiders.
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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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