Norges Bank bought a new position in Chevron Co. (NYSE: CVX – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,515,497 shares of the oil and gas company stock, valued at approximately $ 3,111,594,000. Chevron makes up approximately 0.6% of Norges Bank’s portfolio, making the stock its 17th biggest holding. Norges Bank owned 1.36% of Chevron at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CVX. Cantor Fitzgerald Investment Adviser LP boosted its position in shares of Chevron by 1.4% during the fourth quarter. Cantor Fitzgerald Investment Adviser LP now owns 85,974 shares of the oil and gas company stock valued at $ 10,089,000 after buying an additional 1,176 shares during the last quarter. Greystone Financial Group LLC raised its holdings in shares of Chevron by 9.6% during the fourth quarter. Greystone Financial Group LLC now owns 63,741 shares of the oil and gas company stock valued at $ 7,480,000 after purchasing an additional 5,573 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Chevron by 7.4% in the fourth quarter. Retirement Systems of Alabama now owns 1,479,134 shares of the oil and gas company stock worth $ 173,576,000 after purchasing an additional 102,112 shares during the last quarter. TruWealth Advisors LLC grew its position in Chevron by 2.8% in the 4th quarter. TruWealth Advisors LLC now owns 175,382 shares of the oil and gas company stock worth $ 20,581,000 after purchasing an additional 4,697 shares during the period. Finally, Bank of New Hampshire raised its stake in Chevron by 3.4% during the 4th quarter. Bank of New Hampshire now owns 21,090 shares of the oil and gas company stock valued at $ 2,475,000 after buying an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company stock.
A number of analysts recently commented on the company. Cowen upped their price objective on Chevron from $ 165.00 to $ 179.00 in a research report on Tuesday, June 7th. The Goldman Sachs Group upped their price target on shares of Chevron from $ 160.00 to $ 181.00 and gave the company a “neutral” rating in a research report on Wednesday, June 8th. Credit Suisse Group raised their price objective on shares of Chevron from $ 190.00 to $ 202.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. BMO Capital Markets upped their target price on shares of Chevron from $ 140.00 to $ 170.00 in a report on Wednesday, March 2nd. Finally, StockNews.com assumed coverage on Chevron in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $ 170.48.
In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $ 177.29, for a total value of $ 2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company stock, valued at $ 628,138.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the company stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $ 159.47, for a total value of $ 18,721,778.00. Following the transaction, the executive vice president now directly owns 788 shares in the company, valued at approximately $ 125,662.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 561,726 shares of company stock valued at $ 94,057,396. 0.32% of the stock is currently owned by company insiders.
NYSE CVX opened at $ 148.38 on Friday. The stock has a market capitalization of $ 291.54 billion, a PE ratio of 13.95, a P / E / G ratio of 0.68 and a beta of 1.09. Chevron Co. has a 1-year low of $ 92.86 and a 1-year high of $ 182.40. The business has a 50 day simple moving average of $ 168.52 and a two-hundred day simple moving average of $ 148.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.
Chevron (NYSE: CVX – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share for the quarter, missing the consensus estimate of $ 3.44 by ($ 0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business had revenue of $ 54.37 billion during the quarter, compared to the estimate consensus of $ 54.96 billion. During the same quarter in the prior year, the firm posted $ 0.90 EPS. The company revenue for the quarter was up 69.8% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 17.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were issued a $ 1.42 dividend. This represents a $ 5.68 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Wednesday, May 18th. Chevron’s payout ratio is 53.38%.
Chevron Profile: (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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