Captrust Financial Advisors grew its stake in Chevron Corporation (NYSE:CVX – Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,371,010 shares of the oil and gas company’s stock after buying an additional 47,909 shares during the period. Captrust Financial Advisors owned 0.07% of Chevron worth $208,956,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Core Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $26,000. Karpus Management Inc. bought a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Quattro Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Strategic Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently commented on CVX. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. The Goldman Sachs Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research report on Friday, April 17th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, March 20th. Finally, Citigroup upped their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.
Insider Activity at Chevron
In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 615,200 shares of company stock worth $118,022,760. Corporate insiders own 0.56% of the company’s stock.
More Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron secured regulatory approval to take a 70% interest in Greece’s offshore Block 10, expanding its Eastern Mediterranean exploration footprint and adding a new strategic growth avenue. Chevron Secures Strategic Entry Into Greece’s Offshore Block 10
- Neutral Sentiment: One recent article argued Chevron may be in a “wait-and-see” zone, noting that the stock has rallied from last summer’s lows but that a recent quarter’s cash flow data makes the dividend outlook look less compelling at the current valuation. Down From Its $209 Peak: This Is Why I’m Standing Pat on Chevron Stock
- Negative Sentiment: Chevron’s shares fell in tandem with crude after the U.S.-Iran news reduced the geopolitical risk premium in oil, pressuring the outlook for near-term earnings and free cash flow across energy stocks. Chevron (CVX) Stock Sinks As Market Gains: Here’s Why
Chevron Stock Down 0.3%
Shares of NYSE:CVX opened at $179.94 on Wednesday. The business’s 50 day simple moving average is $188.01 and its two-hundred day simple moving average is $178.70. The firm has a market cap of $358.38 billion, a P/E ratio of 31.19, a PEG ratio of 0.59 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 15.88 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron’s dividend payout ratio is presently 123.40%.
About Chevron
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
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