Motco decreased its holdings in Chevron Co. (NYSE:CVX) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,827 shares of the oil and gas company’s stock after selling 989 shares during the quarter. Chevron accounts for about 1.0% of Motco’s holdings, making the stock its 22nd largest holding. Motco’s holdings in Chevron were worth $9,461,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. South Street Advisors LLC increased its holdings in shares of Chevron by 5.1% in the first quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock valued at $968,000 after purchasing an additional 410 shares during the last quarter. Private Capital Group LLC increased its holdings in shares of Chevron by 4.6% in the second quarter. Private Capital Group LLC now owns 9,281 shares of the oil and gas company’s stock valued at $1,173,000 after purchasing an additional 412 shares during the last quarter. Strategic Financial Services Inc increased its holdings in shares of Chevron by 1.1% in the second quarter. Strategic Financial Services Inc now owns 37,454 shares of the oil and gas company’s stock valued at $4,735,000 after purchasing an additional 413 shares during the last quarter. Montgomery Investment Management Inc. increased its holdings in shares of Chevron by 0.6% in the second quarter. Montgomery Investment Management Inc. now owns 74,541 shares of the oil and gas company’s stock valued at $9,425,000 after purchasing an additional 430 shares during the last quarter. Finally, Fagan Associates Inc. increased its holdings in shares of Chevron by 7.1% in the second quarter. Fagan Associates Inc. now owns 6,596 shares of the oil and gas company’s stock valued at $834,000 after purchasing an additional 435 shares during the last quarter. 64.66% of the stock is owned by institutional investors.
In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the transaction, the insider now directly owns 4,750 shares in the company, valued at $569,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.
Several equities research analysts recently commented on CVX shares. Wells Fargo & Co cut their price target on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a report on Monday, November 5th. ValuEngine cut Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a report on Monday, October 1st. Redburn Partners cut Chevron from a “buy” rating to a “neutral” rating and cut their price target for the company from $130.00 to $115.00 in a report on Wednesday, October 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Chevron in a report on Tuesday, October 23rd. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $138.13.
Shares of Chevron stock opened at $119.51 on Friday. The company has a market capitalization of $231.60 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. The company had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. Chevron had a return on equity of 8.24% and a net margin of 8.79%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. Equities research analysts predict that Chevron Co. will post 8.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, November 15th. This represents a $4.48 annualized dividend and a yield of 3.75%. Chevron’s payout ratio is 121.08%.
Chevron Company Profile
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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