Spearhead Capital Advisors LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 17.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,872 shares of the oil and gas company’s stock after acquiring an additional 12,171 shares during the quarter. Chevron accounts for 1.3% of Spearhead Capital Advisors LLC’s holdings, making the stock its 26th biggest position. Spearhead Capital Advisors LLC’s holdings in Chevron were worth $8,789,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Johnson Midwest Financial LLC acquired a new stake in Chevron in the 4th quarter valued at about $27,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $28,000. Alpha DNA Investment Management LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $31,000. Kathmere Capital Management LLC bought a new stake in Chevron in the 3rd quarter valued at $33,000. Finally, PARK CIRCLE Co lifted its holdings in Chevron by 300.0% during the 4th quarter. PARK CIRCLE Co now owns 400 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. 62.27% of the stock is owned by hedge funds and other institutional investors.
NYSE:CVX traded down $0.22 during trading hours on Tuesday, hitting $105.31. The company’s stock had a trading volume of 209,251 shares, compared to its average volume of 10,701,234. The stock has a fifty day simple moving average of $104.24 and a 200-day simple moving average of $92.40. Chevron Co. has a twelve month low of $65.16 and a twelve month high of $112.70. The company has a market capitalization of $203.04 billion, a P/E ratio of -17.27, a PEG ratio of 5.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The firm had revenue of $32.03 billion for the quarter, compared to analyst estimates of $31.82 billion. During the same period in the previous year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 0.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.09%. This is an increase from Chevron’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Tuesday, May 18th. Chevron’s dividend payout ratio (DPR) is 82.30%.
A number of analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Chevron in a research note on Tuesday, January 12th. They set a “buy” rating and a $107.00 target price for the company. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $102.00 price objective for the company in a report on Friday, January 29th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and increased their target price for the stock from $103.00 to $105.00 in a research note on Thursday, January 14th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Wednesday, March 17th. Finally, Scotiabank reiterated a “sector perform” rating and set a $115.00 price objective on shares of Chevron in a research report on Tuesday, March 16th. Ten analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $110.68.
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.
Further Reading: Buy-Side Analysts
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