Allstate Corp lessened its position in shares of Chevron Co. (NYSE:CVX) by 4.0% during the 1st quarter, Holdings Channel reports. The firm owned 100,869 shares of the oil and gas company’s stock after selling 4,242 shares during the quarter. Allstate Corp’s holdings in Chevron were worth $12,425,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CVX. Hedeker Wealth LLC lifted its holdings in shares of Chevron by 0.7% in the 4th quarter. Hedeker Wealth LLC now owns 18,961 shares of the oil and gas company’s stock valued at $2,062,000 after buying an additional 134 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Chevron by 0.7% in 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 buying an additional 6,695 shares during the period. Cordatus Wealth Management LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $473,000. Independent Investors Inc. lifted its holdings in shares of Chevron by 35.2% in the 4th quarter. Independent Investors Inc. now owns 7,300 shares of the oil and gas company’s stock valued at $794,000 after buying an additional 1,900 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Chevron by 320.3% in 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 buying an additional 2,175,800 shares during the period. Institutional investors and hedge funds own 65.44% of the company’s stock.
In other Chevron news, Director Enrique Hernandez, Jr. sold 2,100 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 15,689 shares of the company’s stock, valued at $1,910,135.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total value of $512,946.00. Following the transaction, 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 11,050 shares of company stock valued at $1,365,221 in the last three months. Insiders own 0.31% of the company’s stock.
Several equities analysts have recently issued reports on CVX shares. Cowen reissued a “buy” rating and issued a $142.00 price objective on shares of Chevron in a report on Wednesday, April 17th. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Tudor Pickering began coverage on Chevron in a report on Friday, March 1st. They issued a “buy” rating and a $133.00 price target for the company. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Friday, April 12th. Finally, Citigroup upped their price target on 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 issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $135.42.
NYSE CVX opened at $120.81 on Monday. The stock has a market capitalization of $230.11 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.98. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $128.55. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The company had revenue of $35.20 billion during the quarter, compared to analysts’ expectations of $38.42 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. Chevron’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 7.9 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.19 per share. The ex-dividend date was Thursday, May 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.94%. Chevron’s payout ratio is currently 57.70%.
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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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