M Holdings Securities Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 31.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,037 shares of the oil and gas company’s stock after purchasing an additional 6,422 shares during the quarter. M Holdings Securities Inc.’s holdings in Chevron were worth $3,330,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Hedeker Wealth LLC boosted its stake in shares of Chevron by 0.7% during the 4th quarter. Hedeker Wealth LLC now owns 18,961 shares of the oil and gas company’s stock worth $2,062,000 after acquiring an additional 134 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Chevron by 0.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,033,875 shares of the oil and gas company’s stock valued at $112,475,000 after purchasing an additional 6,695 shares during the period. Cordatus Wealth Management LLC bought a new stake in shares of Chevron during the 4th quarter valued at $473,000. Independent Investors Inc. raised its position in shares of Chevron by 35.2% during the 4th quarter. Independent Investors Inc. now owns 7,300 shares of the oil and gas company’s stock valued at $794,000 after purchasing an additional 1,900 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Chevron by 320.3% during the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after purchasing an additional 2,175,800 shares during the period. Hedge funds and other institutional investors own 65.39% of the company’s stock.
NYSE:CVX opened at $120.81 on Monday. Chevron Co. has a one year low of $100.22 and a one year high of $128.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. The stock 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 0.97.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, beating the 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 business had revenue of $35.20 billion during the quarter, compared to analyst estimates of $38.42 billion. During the same quarter in the previous year, the business posted $1.90 EPS. The company’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 disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.19 per share. The ex-dividend date was Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.
CVX has been the topic of several recent analyst reports. Citigroup raised their price objective on shares of Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Royal Bank of Canada upgraded shares of Chevron to a “sector perform” rating and set a $145.00 price target on the stock in a report on Wednesday, March 6th. Cowen reiterated an “outperform” rating and issued a $140.00 price target (down from $160.00) on shares of Chevron in a report on Thursday, February 28th. Morgan Stanley initiated coverage on shares of Chevron in a report on Friday, April 12th. They issued an “overweight” rating and a $150.00 target price on the stock. Finally, Barclays boosted their target price on shares of Chevron from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $135.42.
In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $125.60, for a total transaction of $596,600.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $596,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total transaction of $255,675.00. Following the sale, the director now directly owns 15,689 shares in the company, valued at $1,910,135.75. The disclosure for this sale can be found here. Insiders have sold a total of 11,050 shares of company stock worth $1,365,221 in the last 90 days. 0.31% 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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