Foresters Investment Management Company Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 92.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 500,150 shares of the oil and gas company’s stock after acquiring an additional 239,950 shares during the quarter. Chevron accounts for about 1.0% of Foresters Investment Management Company Inc.’s portfolio, making the stock its 11th biggest holding. Foresters Investment Management Company Inc.’s holdings in Chevron were worth $54,411,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. purchased a new position in Chevron in the 4th quarter valued at $388,000. Birch Hill Investment Advisors LLC lifted its holdings in Chevron by 0.8% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 23,071 shares of the oil and gas company’s stock valued at $2,510,000 after purchasing an additional 175 shares in the last quarter. Kings Point Capital Management lifted its holdings in Chevron by 3.0% in the 4th quarter. Kings Point Capital Management now owns 53,017 shares of the oil and gas company’s stock valued at $5,768,000 after purchasing an additional 1,537 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in Chevron in the 4th quarter valued at $2,848,000. Finally, Geode Capital Management LLC lifted its holdings in Chevron by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 24,266,556 shares of the oil and gas company’s stock valued at $2,635,635,000 after purchasing an additional 1,613,262 shares in the last quarter. 65.44% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CVX opened at $120.19 on Thursday. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $128.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.12. The firm has a market cap of $230.80 billion, a PE ratio of 16.51, a P/E/G ratio of 2.45 and a beta of 0.98.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 7.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.19 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.96%. Chevron’s dividend payout ratio is presently 57.70%.
CVX has been the topic of a number of research reports. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, April 29th. Cowen restated a “buy” rating and issued a $142.00 price objective on shares of Chevron in a report on Wednesday, April 17th. Citigroup raised their price objective on Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a report on Monday, April 15th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Friday, April 12th. Finally, Mizuho restated a “buy” rating and issued a $140.00 price objective on shares of Chevron in a report on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $135.42.
In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $125.60, for a total transaction of $596,600.00. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $596,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total value of $255,675.00. Following the sale, the director now directly owns 15,689 shares of the company’s stock, valued at $1,910,135.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,050 shares of company stock worth $1,365,221. Insiders own 0.31% of the company’s stock.
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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