Legacy Private Trust Co. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,058 shares of the oil and gas company’s stock after buying an additional 6,032 shares during the quarter. Legacy Private Trust Co.’s holdings in Chevron were worth $5,641,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after purchasing an additional 3,920,240 shares during the period. Capital World Investors lifted its stake in Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Chevron by 669.9% in the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after acquiring an additional 2,810,928 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Chevron by 305,886.4% in the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock worth $307,042,000 after acquiring an additional 2,612,270 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after acquiring an additional 1,975,865 shares during the last quarter. 65.04% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Credit Suisse Group decreased their price target on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, March 7th. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $113.61 to $138.00 in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $130.00.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. sell-side analysts expect that Chevron Co. will post 6.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.85%. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 92.37%.
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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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