Telos Capital Management Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,567 shares of the oil and gas company’s stock after acquiring an additional 1,217 shares during the period. Telos Capital Management Inc.’s holdings in Chevron were worth $2,781,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Capital International Investors increased its holdings in shares of Chevron by 157.4% during the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock worth $2,905,102,000 after buying an additional 14,528,219 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Chevron by 320.3% during the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock worth $349,120,000 after buying an additional 2,175,800 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Chevron by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 149,871,580 shares of the oil and gas company’s stock worth $18,326,297,000 after buying an additional 1,897,503 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Chevron by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 149,871,580 shares of the oil and gas company’s stock worth $18,326,297,000 after buying an additional 1,897,503 shares during the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $88,758,000. Institutional investors and hedge funds own 65.90% of the company’s stock.
NYSE:CVX opened at $122.14 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $130.39. The company has a market cap of $229.41 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.77 and a beta of 1.00.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.13. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The company had revenue of $35.20 billion during the quarter, compared to analysts’ expectations of $38.42 billion. During the same quarter last year, the company posted $1.90 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 7.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.19 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.76 annualized dividend and a yield of 3.90%. Chevron’s dividend payout ratio is presently 57.70%.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $124.84, for a total value of $592,990.00. Following the completion of the transaction, the insider now 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. Company insiders own 0.31% of the company’s stock.
A number of brokerages have recently issued reports on CVX. Citigroup began coverage on shares of Chevron in a report on Monday. They set a “buy” rating and a $135.00 price target for the company. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Monday, April 29th. Royal Bank of Canada upgraded shares of Chevron to a “sector perform” rating and set a $145.00 price target for the company in a report on Wednesday, March 6th. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, April 1st. They set an “overweight” rating and a $146.00 price objective for the company. Finally, UBS Group raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price objective for the company in a research report on Friday, January 18th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $135.47.
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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