Telos Capital Management Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,589 shares of the oil and gas company’s stock after purchasing an additional 496 shares during the quarter. Telos Capital Management Inc.’s holdings in Chevron were worth $3,433,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BKD Wealth Advisors LLC boosted its stake in Chevron by 2.5% in the fourth quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after buying an additional 763 shares in the last quarter. Meridian Financial Partners LLC purchased a new stake in Chevron in the fourth quarter worth approximately $721,000. Legacy Financial Advisors Inc. boosted its stake in Chevron by 22.6% in the fourth quarter. Legacy Financial Advisors Inc. now owns 2,601 shares of the oil and gas company’s stock worth $283,000 after buying an additional 480 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Chevron by 5.6% in the fourth quarter. Cornerstone Advisors Inc. now owns 4,402 shares of the oil and gas company’s stock worth $479,000 after buying an additional 232 shares in the last quarter. Finally, Highland Capital Management LLC boosted its stake in Chevron by 7.4% in the fourth quarter. Highland Capital Management LLC now owns 153,846 shares of the oil and gas company’s stock worth $16,737,000 after buying an additional 10,605 shares in the last quarter. 65.55% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Cowen reaffirmed a “buy” rating and issued a $142.00 target price on shares of Chevron in a research note on Wednesday, April 17th. Citigroup assumed coverage on Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 target price for the company. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley cut their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $135.41.
In other news, Chairman Michael K. Wirth sold 33,750 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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. In the last three months, insiders have sold 40,050 shares of company stock valued at $5,007,621. Insiders own 0.31% of the company’s stock.
Shares of NYSE:CVX traded down $0.01 during trading on Friday, reaching $120.73. 9,025,553 shares of the company traded hands, compared to its average volume of 4,276,224. The stock has a market capitalization of $234.49 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. Chevron Co. has a 52-week low of $100.22 and a 52-week high of $127.60. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $124.02.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The firm had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, research analysts forecast that Chevron Co. will post 6.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio (DPR) is presently 57.70%.
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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