Brick & Kyle Associates trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.5% in the first quarter, Holdings Channel reports. The institutional investor owned 12,914 shares of the oil and gas company’s stock after selling 192 shares during the period. Chevron makes up about 1.3% of Brick & Kyle Associates’ holdings, making the stock its 25th largest holding. Brick & Kyle Associates’ holdings in Chevron were worth $1,591,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CVX. Putnam FL Investment Management Co. increased its position in shares of Chevron by 2.6% during the fourth quarter. Putnam FL Investment Management Co. now owns 15,677 shares of the oil and gas company’s stock worth $1,706,000 after acquiring an additional 400 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Chevron by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 27,104 shares of the oil and gas company’s stock valued at $3,233,000 after buying an additional 674 shares in the last quarter. Surevest Inc. purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $275,000. Nordea Investment Management AB lifted its stake in shares of Chevron by 298.6% during the 4th quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock valued at $184,416,000 after buying an additional 1,269,889 shares in the last quarter. Finally, Financial Partners Capital Management LLC lifted its stake in shares of Chevron by 1.4% during the 4th quarter. Financial Partners Capital Management LLC now owns 92,431 shares of the oil and gas company’s stock valued at $10,056,000 after buying an additional 1,307 shares in the last quarter. Institutional investors own 65.44% of the company’s stock.
CVX has been the topic of a number of recent research reports. Cowen restated a “buy” rating and set a $142.00 price target on shares of Chevron in a research note on Wednesday, April 17th. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Tudor Pickering initiated coverage on shares of Chevron in a research note on Friday, March 1st. They set a “buy” rating and a $133.00 price target on the stock. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Friday, April 12th. Finally, Citigroup upped their target price on shares of Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $135.42.
Chevron stock traded down $0.10 during midday trading on Friday, reaching $120.81. 3,366,761 shares of the stock were exchanged, compared to its average volume of 5,737,168. The firm has a market capitalization of $230.11 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.98. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $128.55. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.
Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.13. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The company had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. During the same quarter last year, the firm earned $1.90 EPS. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 7.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a dividend of $1.19 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.76 annualized dividend and a yield of 3.94%. Chevron’s payout ratio is currently 57.70%.
In other Chevron news, Director Enrique Hernandez, Jr. sold 2,100 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total transaction of $255,675.00. Following the completion of the sale, the director now owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the sale, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. Insiders have sold a total of 11,050 shares of company stock valued at $1,365,221 in the last three months. 0.31% of the stock is currently owned by corporate 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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