Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,440 shares of the oil and gas company’s stock after buying an additional 8,270 shares during the quarter. Chevron comprises 1.3% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 27th biggest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Chevron were worth $4,814,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. MainStreet Investment Advisors LLC grew its position in shares of Chevron by 15.7% in the first quarter. MainStreet Investment Advisors LLC now owns 115,279 shares of the oil and gas company’s stock valued at $8,353,000 after purchasing an additional 15,661 shares during the last quarter. Argent Trust Co grew its position in shares of Chevron by 8.9% in the first quarter. Argent Trust Co now owns 131,195 shares of the oil and gas company’s stock valued at $9,506,000 after purchasing an additional 10,674 shares during the last quarter. Cardan Capital Partners LLC grew its position in shares of Chevron by 92.1% in the first quarter. Cardan Capital Partners LLC now owns 4,210 shares of the oil and gas company’s stock valued at $305,000 after purchasing an additional 2,018 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Chevron by 5.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 639,782 shares of the oil and gas company’s stock valued at $46,359,000 after purchasing an additional 32,788 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its position in shares of Chevron by 29.0% in the first quarter. Nicholas Hoffman & Company LLC. now owns 17,358 shares of the oil and gas company’s stock valued at $1,258,000 after purchasing an additional 3,901 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CVX traded down $1.76 during trading on Friday, reaching $90.28. The stock had a trading volume of 8,560,331 shares, compared to its average volume of 10,544,008. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The business’s 50-day moving average price is $86.77 and its 200 day moving average price is $102.43. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $127.00. The stock has a market capitalization of $171.84 billion, a PE ratio of 44.04 and a beta of 1.31.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $0.64 by $1.29. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm had revenue of $31.50 billion during the quarter, compared to analysts’ expectations of $30.46 billion. During the same quarter in the previous year, the company posted $1.47 EPS. Chevron’s revenue was down 10.5% on a year-over-year basis. Analysts forecast that Chevron Co. will post -0.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Monday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 82.30%.
In related news, Director John Frank acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $96.59 per share, for a total transaction of $96,590.00. Following the transaction, the director now directly owns 5,114 shares of the company’s stock, valued at approximately $493,961.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.
A number of research firms recently weighed in on CVX. Cowen decreased their target price on Chevron from $134.00 to $127.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Co lifted their target price on Chevron from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Independent Research downgraded Chevron to a “hold” rating in a research report on Tuesday, April 14th. Morgan Stanley decreased their target price on Chevron from $137.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Finally, Argus reissued a “buy” rating and set a $88.00 target price (down from $150.00) on shares of Chevron in a research report on Thursday, March 26th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Chevron presently has an average rating of “Buy” and an average price target of $113.05.
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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