Carnegie Capital Asset Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 56.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,133 shares of the oil and gas company’s stock after acquiring an additional 15,947 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Chevron were worth $5,260,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Canton Hathaway LLC acquired a new position in Chevron during the 3rd quarter worth about $141,000. Signature Estate & Investment Advisors LLC acquired a new position in Chevron during the 3rd quarter worth about $144,000. O Brien Wealth Partners LLC lifted its holdings in Chevron by 4,389.3% during the 3rd quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock worth $154,000 after buying an additional 1,229 shares during the period. Atlantic Trust LLC lifted its holdings in Chevron by 54.7% during the 2nd quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock worth $186,000 after buying an additional 520 shares during the period. Finally, Almanack Investment Partners LLC. acquired a new position in Chevron during the 3rd quarter worth about $188,000. 64.75% of the stock is currently owned by institutional investors.
In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $124.84, for a total value of $592,990.00. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $592,990. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanette L. Ourada sold 7,200 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the sale, the insider now directly owns 7,200 shares of the company’s stock, valued at $838,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,700 shares of company stock valued at $1,964,740. Corporate insiders own 0.46% of the company’s stock.
Several research analysts have commented on CVX shares. Credit Suisse Group set a $138.00 target price on Chevron and gave the stock a “buy” rating in a report on Saturday, December 8th. Tudor Pickering started coverage on Chevron in a report on Friday, March 1st. They set a “buy” rating and a $133.00 target price on the stock. Cowen reaffirmed an “outperform” rating and set a $140.00 target price (down from $160.00) on shares of Chevron in a report on Thursday, February 28th. Societe Generale cut their target price on Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Finally, Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and an average price target of $134.18.
CVX stock opened at $125.31 on Friday. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $131.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.25 and a quick ratio of 1.04. The stock has a market capitalization of $238.10 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.08. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The firm had revenue of $42.35 billion during the quarter, compared to analyst estimates of $41.46 billion. During the same period last year, the company posted $1.64 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Chevron Co. will post 6.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 15th were given a $1.19 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 annualized dividend and a dividend yield of 3.80%. Chevron’s dividend payout ratio (DPR) is 57.70%.
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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