Bridges Investment Management Inc. reduced its stake in shares of Chevron Co. (NYSE: CVX – Get Rating) by 1.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 104,514 shares of the oil and gas company stock after selling 2,077 shares during the period. Bridges Investment Management Inc.’s holdings in Chevron were worth $ 17,018,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. New Capital Management LP acquired a new stake in shares of Chevron in the first quarter valued at approximately $ 256,000. Lynch & Associates IN raised its holdings in shares of Chevron by 0.3% in the first quarter. Lynch & Associates IN now owns 51,520 shares of the oil and gas company stock valued at $ 8,389,000 after purchasing an additional 137 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Chevron by 5.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 254,889 shares of oil and gas company stock valued at $ 41,504,000 after purchasing an additional 13,347 shares during the last quarter. American National Bank raised its holdings in shares of Chevron by 0.5% in the first quarter. American National Bank now owns 61,550 shares of oil and gas company stock valued at $ 10,022,000 after purchasing an additional 302 shares during the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Chevron by 2.4% in the first quarter. DNB Asset Management AS now owns 627,475 shares of the oil and gas company stock valued at $ 102,172,000 after purchasing an additional 14,560 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company stock.
In other news, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $ 159.47, for a total transaction of $ 18,721,778.00. Following the sale, the executive vice president now directly owns 788 shares in the company, valued at $ 125,662.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $ 160.00, for a total value of $ 928,800.00. Following the sale, the director now owns 22,978 shares in the company, valued at $ 3,676,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,726 shares of company stock valued at $ 94,057,396. Insiders own 0.32% of the company stock.
Several equities analysts recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Chevron from $ 190.00 to $ 202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. JPMorgan Chase & Co. cut shares of Chevron from a “neutral” rating to an “underweight” rating and set a $ 169.00 target price for the company. in a research note on Friday, March 11th. The Goldman Sachs Group raised their target price on shares of Chevron from $ 160.00 to $ 181.00 and gave the company a “neutral” rating in a research note on Wednesday, June 8th. UBS Group raised their target price on shares of Chevron from $ 150.00 to $ 192.00 and gave the company a “buy” rating in a research note on Tuesday, April 5th. Finally, Morgan Stanley decreased their target price on shares of Chevron from $ 188.00 to $ 185.00 and set an “equal weight” rating for the company in a research note on Monday, June 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company stock. According to MarketBeat.com, Chevron has a consensus rating of “Buy” and an average target price of $ 170.48.
CVX stock opened at $ 148.38 on Tuesday. The company has a market cap of $ 291.54 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. The business has a 50-day simple moving average of $ 168.17 and a 200 day simple moving average of $ 149.43. Chevron Co. has a 52 week low of $ 92.86 and a 52 week high of $ 182.40. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20.
Chevron (NYSE: CVX – Get Rating) last issued its earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 EPS for the quarter, missing the consensus estimate of $ 3.44 by ($ 0.08). The business had revenue of $ 54.37 billion for the quarter, compared to analyst estimates of $ 54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The firm’s revenue was up 69.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $ 0.90 EPS. On average, analysts anticipate that Chevron Co. will post 17.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were paid a dividend of $ 1.42 per share. This represents a $ 5.68 annualized dividend and a yield of 3.83%. The ex-dividend date was Wednesday, May 18th. Chevron’s payout ratio is 53.38%.
Chevron Company 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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