Grisanti Capital Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 4.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,560 shares of the oil and gas company’s stock after purchasing an additional 635 shares during the period. Grisanti Capital Management LLC’s holdings in Chevron were worth $1,593,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares in the last quarter. Capital World Investors boosted its stake in Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Chevron by 669.9% during the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after buying an additional 2,810,928 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Chevron by 305,886.4% during the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after buying an additional 2,612,270 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after purchasing an additional 1,975,865 shares during the period. 64.10% of the stock is currently owned by institutional investors.
In other news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.
Shares of Chevron Co. (NYSE CVX) opened at $110.98 on Wednesday. The stock has a market capitalization of $212,995.78, a PE ratio of 27.49, a P/E/G ratio of 2.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Co. has a one year low of $102.55 and a one year high of $133.88.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. analysts predict that Chevron Co. will post 6.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 92.37%.
A number of equities analysts recently weighed in on CVX shares. Jefferies Group reiterated a “buy” rating and issued a $137.00 price target (up previously from $113.54) on shares of Chevron in a research report on Monday, October 30th. Goldman Sachs Group lowered Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Friday, November 10th. Citigroup increased their price target on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen 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 target price of $130.30.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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