Gofen & Glossberg LLC IL lowered its position in Chevron Co. (NYSE:CVX) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 323,189 shares of the oil and gas company’s stock after selling 3,119 shares during the quarter. Chevron comprises 1.4% of Gofen & Glossberg LLC IL’s investment portfolio, making the stock its 18th largest holding. Gofen & Glossberg LLC IL’s holdings in Chevron were worth $40,460,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Beach Investment Management LLC. purchased a new position in Chevron during the 2nd quarter valued at about $2,588,000. Grisanti Capital Management LLC grew its holdings in Chevron by 0.5% during the 2nd quarter. Grisanti Capital Management LLC now owns 12,925 shares of the oil and gas company’s stock valued at $1,348,000 after buying an additional 70 shares in the last quarter. LaFleur & Godfrey LLC grew its holdings in Chevron by 12.5% during the 2nd quarter. LaFleur & Godfrey LLC now owns 16,604 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 1,840 shares in the last quarter. Convergence Investment Partners LLC grew its holdings in Chevron by 24.2% during the 2nd quarter. Convergence Investment Partners LLC now owns 2,847 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 554 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. grew its holdings in Chevron by 68.7% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 169,020 shares of the oil and gas company’s stock valued at $17,634,000 after buying an additional 68,850 shares in the last quarter. 65.04% of the stock is owned by institutional investors.
CVX has been the subject of a number of recent analyst reports. Vetr lowered Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price for the company. in a report on Monday, February 26th. Royal Bank of Canada set a $110.00 target price on Chevron and gave the company a “sell” rating in a report on Wednesday, December 20th. Wells Fargo & Co reduced their target price on Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $130.00.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. analysts expect that Chevron Co. will post 6.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were given a $1.12 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.84%. Chevron’s payout ratio is presently 92.37%.
Chevron Company Profile
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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