Jaffetilchin Investment Partners LLC boosted its position in Chevron Co. (NYSE: CVX – Get Rating) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,024 shares of the oil and gas company stock after acquiring an additional 672 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Chevron were worth $ 942,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of Chevron by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company stock valued at $ 3,776,323,000 after purchasing an additional 667,875 shares in the last quarter. Morgan Stanley boosted its stake in shares of Chevron by 6.9% during the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of oil and gas company stock valued at $ 2,440,693,000 after purchasing an additional 1,513,296 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company stock valued at $ 1,702,446,000 after purchasing an additional 254,353 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Chevron by 6.8% during the 4th 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Chevron by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company stock valued at $ 977,069,000 after purchasing an additional 346,881 shares in the last quarter. 65.89% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction 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 owns 788 shares of the company stock, valued at $ 125,662.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wanda M. Austin sold 12,039 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 3,543 shares in the company, valued at approximately $ 628,138.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 561,726 shares of company stock valued at $ 94,057,396. Company insiders own 0.32% of the company stock.
Shares of NYSE CVX opened at $ 164.26 on Thursday. The firm has a 50 day moving average of $ 169.18 and a 200 day moving average of $ 148.17. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $ 322.74 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. Chevron Co. has a 12-month low of $ 92.86 and a 12-month high of $ 182.40.
Chevron (NYSE: CVX – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $ 3.44 by ($ 0.08). The firm had revenue of $ 54.37 billion during 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 business’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $ 0.90 earnings per share. Sell-side analysts predict that Chevron Co. will post 17.25 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a $ 1.42 dividend. The ex-dividend date was Wednesday, May 18th. This represents a $ 5.68 dividend on an annualized basis and a dividend yield of 3.46%. Chevron’s payout ratio is currently 53.38%.
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Chevron from a “neutral” rating to an “underweight” rating and set a $ 169.00 price target for the company. in a research report on Friday, March 11th. Barclays lifted their price target on shares of Chevron from $ 183.00 to $ 196.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Citigroup lifted their price target on shares of Chevron from $ 160.00 to $ 170.00 and gave the company a “neutral” rating in a research report on Thursday, May 19th. Truist Financial lowered their price target on shares of Chevron from $ 186.00 to $ 181.00 in a research report on Monday, May 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Chevron from $ 150.00 to $ 184.00 and gave the stock an “overweight” rating in a 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $ 170.48.
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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