Sterling Investment Advisors Ltd. lifted its holdings in Chevron Co. (NYSE:CVX) by 290.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,289 shares of the oil and gas company’s stock after purchasing an additional 7,657 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Chevron were worth $745,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CVX. Capital Wealth Planning LLC lifted its position in Chevron by 6.2% during the fourth quarter. Capital Wealth Planning LLC now owns 626,966 shares of the oil and gas company’s stock valued at $75,556,000 after acquiring an additional 36,574 shares during the last quarter. Alley Co LLC lifted its position in Chevron by 1.7% during the fourth quarter. Alley Co LLC now owns 58,092 shares of the oil and gas company’s stock valued at $7,001,000 after acquiring an additional 949 shares during the last quarter. AXA lifted its position in Chevron by 6.3% during the fourth quarter. AXA now owns 661,816 shares of the oil and gas company’s stock valued at $79,755,000 after acquiring an additional 39,182 shares during the last quarter. Americana Partners LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $3,902,000. Finally, Keebeck Wealth Management LLC purchased a new position in shares of Chevron in the fourth quarter worth $520,000. 66.85% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. UBS Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of Chevron in a report on Tuesday, April 7th. Craig Hallum increased their price objective on shares of Chevron from $81.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada raised their price target on shares of Chevron from $85.00 to $100.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 14th. Mizuho dropped their target price on shares of Chevron from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Citigroup dropped their target price on shares of Chevron from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $113.05.
NYSE CVX traded down $0.18 during trading hours on Monday, reaching $89.26. The company’s stock had a trading volume of 1,835,390 shares, compared to its average volume of 13,185,731. The stock has a market cap of $166.98 billion, a PE ratio of 43.64 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 1.07. The company’s 50-day moving average is $78.14 and its two-hundred day moving average is $104.97. Chevron Co. has a fifty-two week low of $51.60 and a fifty-two week high of $127.00.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $1.29. The company had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $30.46 billion. Chevron had a net margin of 2.71% and a return on equity of 8.17%. Chevron’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. Equities analysts expect that Chevron Co. will post -0.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid a $1.29 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.16 dividend on an annualized basis and a yield of 5.78%. Chevron’s dividend payout ratio is currently 82.30%.
In other Chevron news, Director John Frank bought 400 shares of the stock in a transaction on Monday, February 24th. The shares were bought at an average price of $104.61 per share, with a total value of $41,844.00. Following the purchase, the director now directly owns 5,114 shares in the company, valued at approximately $534,975.54. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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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