CastleArk Alternatives LLC decreased its holdings in Chevron Co. (NYSE: CVX – Get Rating) by 86.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,450 shares of the oil and gas company stock after selling 15,630 shares during the period. Chevron comprises approximately 2.3% of CastleArk Alternatives LLC’s investment portfolio, making the stock its 7th biggest holding. CastleArk Alternatives LLC’s holdings in Chevron were worth $ 288,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CVX. Morgan Stanley raised its stake in Chevron by 6.9% in the second quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company stock valued at $ 2,440,693,000 after buying an additional 1,513,296 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $ 119,040,000. Invesco Ltd. grew its position in shares of Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company stock valued at $ 1,689,870,000 after purchasing an additional 917,773 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $ 80,980,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Chevron by 534.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company stock valued at $ 111,113,000 after purchasing an additional 797,701 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company stock.
Shares of CVX opened at $ 164.26 on Thursday. Chevron Co. has a 52 week low of $ 92.86 and a 52 week high of $ 182.40. The stock has a market capitalization of $ 322.74 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The stock has a fifty day moving average of $ 169.18 and a 200-day moving average of $ 148.17.
Chevron (NYSE: CVX – Get Rating) last announced its earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share (EPS) for the quarter, missing the estimate consensus of $ 3.44 by ($ 0.08). The company had revenue of $ 54.37 billion for the quarter, compared to the estimate consensus of $ 54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The firm’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same period in the prior year, the business earned $ 0.90 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 17.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were given a dividend of $ 1.42 per share. This represents a $ 5.68 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio is currently 53.38%.
Several equities analysts have recently commented on the company. Royal Bank of Canada downgraded Chevron from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $ 160.00 to $ 165.00 in a research report on Thursday, April 21st. Societe Generale downgraded Chevron from a “buy” rating to a “hold” rating and set a $ 175.00 target price on the stock. in a research report on Friday, May 20th. Credit Suisse Group increased their price target on Chevron from $ 190.00 to $ 202.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. Cowen increased their price target on Chevron from $ 165.00 to $ 179.00 in a research report on Tuesday, June 7th. Finally, Wells Fargo & Company increased their price target on Chevron from $ 150.00 to $ 184.00 and gave the stock an “overweight” rating in a research report on Friday, March 11th. One equities 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 stock presently has a consensus rating of “Buy” and an average price target of $ 170.48.
In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of the 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 completion of the sale, the executive vice president now directly owns 788 shares in the company, valued at approximately $ 125,662.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the 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 of the company stock, valued at $ 3,676,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 561,726 shares of company stock valued at $ 94,057,396. 0.32% of the stock is owned by corporate insiders.
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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