Burns JW & Co. Inc. NY lessened its holdings in Chevron Co. (NYSE: CVX – Get Rating) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,811 shares of the oil and gas company stock after selling 279 shares during the period. Chevron comprises approximately 1.8% of Burns JW & Co. Chevron. Inc. NY’s holdings, making the stock its 11th biggest holding. Burns JW & Co. Inc. NY’s holdings in Chevron were worth $ 11,530,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CVX. Norges Bank purchased a new stake in Chevron during the 4th quarter worth $ 3,111,594,000. Morgan Stanley increased its stake in Chevron by 6.9% during the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company stock worth $ 2,440,693,000 after buying an additional 1,513,296 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Chevron during the 4th quarter worth $ 119,040,000. Invesco Ltd. increased its stake in Chevron by 6.8% during the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company stock worth $ 1,689,870,000 after buying an additional 917,773 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Chevron by 534.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company stock worth $ 111,113,000 after buying an additional 797,701 shares during the period. 65.89% of the stock is currently owned by institutional investors and hedge funds.
Chevron stock opened at $ 148.38 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $ 168.17 and a two-hundred day moving average price of $ 149.43. The firm has a market capitalization of $ 291.54 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.65 and a beta of 1.09. Chevron Co. has a 52-week low of $ 92.86 and a 52-week high of $ 182.40.
Chevron (NYSE: CVX – Get Rating) last posted its earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 3.44 by ($ 0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The firm had revenue of $ 54.37 billion for the quarter, compared to analyst estimates of $ 54.96 billion. During the same period in the previous year, the firm earned $ 0.90 earnings per share. The company revenue for the quarter was up 69.8% on a year-over-year basis. Research analysts expect that Chevron Co. will post 17.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a dividend of $ 1.42 per share. The ex-dividend date was Wednesday, May 18th. This represents a $ 5.68 dividend on an annualized basis and a dividend yield of 3.83%. Chevron’s dividend payout ratio (DPR) is 53.38%.
In other Chevron news, Director Enrique Hernandez, Jr. sold 11,799 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $ 175.00, for a total transaction of $ 2,064,825.00. Following the sale, the director now directly owns 24,281 shares in the company, valued at approximately $ 4,249,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wanda M. Austin sold 12,039 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $ 177.29, for a total transaction of $ 2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares in the company, valued at $ 628,138.47. The disclosure for this sale can be found here. Insiders have sold a total of 561,726 shares of company stock worth $ 94,057,396 over the last 90 days. 0.32% of the stock is owned by insiders.
Several equities research analysts have recently weighed in on CVX shares. StockNews.com started coverage on shares of Chevron in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group boosted their target price on shares of Chevron from $ 190.00 to $ 202.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. Citigroup boosted their target price on shares of Chevron from $ 160.00 to $ 170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 19th. Morgan Stanley dropped 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 report on Monday, June 6th. Finally, Raymond James boosted their target price on shares of Chevron from $ 173.00 to $ 191.00 and gave the stock an “outperform” rating in a research report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $ 170.48.
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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