Securian Asset Management Inc lifted its holdings in Chevron Co. (NYSE:CVX) by 0.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 193,095 shares of the oil and gas company’s stock after acquiring an additional 946 shares during the period. Chevron makes up approximately 0.6% of Securian Asset Management Inc’s investment portfolio, making the stock its 28th largest position. Securian Asset Management Inc’s holdings in Chevron were worth $24,413,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Chevron by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after buying an additional 549,931 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Chevron by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 8,933,341 shares of the oil and gas company’s stock worth $1,129,443,000 after buying an additional 204,547 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Chevron by 0.4% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock worth $869,505,000 after buying an additional 31,022 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Chevron by 10.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,391,206 shares of the oil and gas company’s stock worth $808,040,000 after buying an additional 594,253 shares in the last quarter. Finally, Swiss National Bank grew its stake in Chevron by 3.6% during the second quarter. Swiss National Bank now owns 6,360,623 shares of the oil and gas company’s stock worth $804,174,000 after buying an additional 222,500 shares in the last quarter. Institutional investors and hedge funds own 64.66% of the company’s stock.
CVX has been the topic of a number of analyst reports. Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price objective on shares of Chevron and gave the stock a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Monday, October 1st. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a report on Tuesday, October 23rd. Finally, Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $150.00 to $135.00 in a report on Thursday, September 6th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $138.13.
In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The shares were 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 owns 4,750 shares in the company, valued at approximately $569,857.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is owned by company insiders.
CVX stock opened at $119.51 on Friday. The stock has a market capitalization of $231.60 billion, a PE ratio of 32.30, a P/E/G ratio of 2.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron Co. has a 12 month low of $107.54 and a 12 month high of $133.88.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. The business had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. Chevron had a net margin of 8.79% and a return on equity of 8.24%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business earned $1.03 EPS. As a group, analysts anticipate 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 issued a $1.12 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.75%. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
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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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