Smead Capital Management Inc. bought a new stake in Chevron Co. (NYSE:CVX) during the first quarter, Holdings Channel.com reports. The firm bought 620,929 shares of the oil and gas company’s stock, valued at approximately $44,993,000. Chevron makes up about 3.2% of Smead Capital Management Inc.’s holdings, making the stock its 18th biggest holding.
A number of other hedge funds also recently bought and sold shares of the business. Sailer Financial LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Filbrandt Wealth Management LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Corbenic Partners LLC raised its stake in shares of Chevron by 276.0% during the first quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 265 shares in the last quarter. Roffman Miller Associates Inc. PA bought a new stake in shares of Chevron during the fourth quarter valued at about $27,000. Finally, Advocacy Wealth Management Services LLC raised its stake in shares of Chevron by 84.2% during the first quarter. Advocacy Wealth Management Services LLC now owns 396 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 66.85% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Cowen cut their price objective on shares of Chevron from $134.00 to $127.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 target price on the stock in a report on Thursday, January 23rd. Raymond James lowered their target price on Chevron from $125.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. TheStreet lowered Chevron from a “b-” rating to a “c+” rating in a report on Thursday, February 27th. Finally, HSBC reaffirmed a “neutral” rating and set a $115.00 target price on shares of Chevron in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Chevron currently has a consensus rating of “Buy” and an average price target of $113.05.
NYSE CVX traded down $0.18 during trading on Monday, reaching $89.26. 1,835,390 shares of the company’s stock were exchanged, compared to its average volume of 13,185,731. Chevron Co. has a fifty-two week low of $51.60 and a fifty-two week high of $127.00. The firm has a market capitalization of $166.98 billion, a PE ratio of 43.64 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $78.14 and its 200-day simple moving average is $104.97.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $1.29. The firm had revenue of $31.50 billion during the quarter, compared to analyst estimates of $30.46 billion. Chevron had a return on equity of 8.17% and a net margin of 2.71%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.47 EPS. Equities analysts forecast that Chevron Co. will post -0.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $1.29 per share. The ex-dividend date is Monday, May 18th. This represents a $5.16 annualized dividend and a dividend yield of 5.78%. Chevron’s dividend payout ratio is 82.30%.
In other news, Director John Frank purchased 1,000 shares of Chevron stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $96.59 per share, for a total transaction of $96,590.00. Following the acquisition, the director now directly owns 5,114 shares in the company, valued at $493,961.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by insiders.
Chevron Company Profile
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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