Grimes & Company Inc. lessened its position in Chevron Co. (NYSE:CVX) by 2.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,494 shares of the oil and gas company’s stock after selling 821 shares during the period. Grimes & Company Inc.’s holdings in Chevron were worth $3,379,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its holdings in shares of Chevron by 2,073.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock valued at $1,852,443,000 after purchasing an additional 14,201,379 shares in the last quarter. BlackRock Inc. lifted its stake in Chevron by 3.5% in the 2nd quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after acquiring an additional 4,401,622 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Chevron by 12,204.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock valued at $325,980,000 after acquiring an additional 3,233,312 shares in the last quarter. APG Asset Management N.V. lifted its stake in Chevron by 59.6% in the 2nd quarter. APG Asset Management N.V. now owns 5,518,090 shares of the oil and gas company’s stock valued at $602,978,000 after acquiring an additional 2,061,187 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Chevron by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock valued at $19,600,995,000 after acquiring an additional 1,572,940 shares in the last quarter. Institutional investors own 65.68% of the company’s stock.
Shares of Chevron stock traded up $0.19 on Monday, reaching $121.12. 217,227 shares of the company were exchanged, compared to its average volume of 6,442,372. Chevron Co. has a one year low of $100.22 and a one year high of $127.34. The company has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 3.25 and a beta of 0.99. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $117.65 and a 200 day moving average of $119.96.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. During the same quarter in the prior year, the company earned $2.11 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts predict that Chevron Co. will post 6.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th 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 3.93%. The ex-dividend date is Friday, November 15th. Chevron’s dividend payout ratio is currently 57.70%.
Several equities research analysts have commented on CVX shares. Morgan Stanley cut their target price on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Independent Research set a $127.00 target price on Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Cowen cut their target price on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, BMO Capital Markets started coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $135.88.
In related news, EVP Joseph C. Geagea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the transaction, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at approximately $737,298.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,750 shares of company stock worth $11,216,850. Company insiders own 0.31% of the company’s stock.
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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