Meyer Handelman Co. cut its holdings in shares of Chevron Co. (NYSE: CVX – Get Rating) by 3.1% in the first quarter, HoldingsChannel reports. The fund owned 271,279 shares of oil and gas company stock after selling 8,574 shares during the quarter. Chevron accounts for 1.7% of Meyer Handelman Co.’s portfolio, making the stock its 14th biggest holding. Meyer Handelman Co.’s holdings in Chevron were worth $ 44,173,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Eagle Capital Management LLC raised its stake in shares of Chevron by 3.1% during the 2nd quarter. Eagle Capital Management LLC now owns 34,480 shares of the oil and gas company stock worth $ 3,611,000 after purchasing an additional 1,047 shares in the last quarter. Morgan Stanley raised its stake in shares of Chevron by 6.9% in the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of oil and gas company stock valued at $ 2,440,693,000 after acquiring an additional 1,513,296 shares in the last quarter. Keudell Morrison Wealth Management raised its stake in shares of Chevron by 1.8% in the 3rd quarter. Keudell Morrison Wealth Management now owns 19,531 shares of the oil and gas company stock valued at $ 1,981,000 after acquiring an additional 340 shares in the last quarter. EagleClaw Capital Managment LLC raised its stake in shares of Chevron by 19.6% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 45,471 shares of the oil and gas company stock valued at $ 4,609,000 after acquiring an additional 7,455 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Chevron in the 3rd quarter valued at approximately $ 30,345,000. Hedge funds and other institutional investors own 65.89% of the company stock.
In other Chevron 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 value of $ 18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares of the company stock, valued at $ 125,662.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Wanda M. Austin sold 12,039 shares of the company stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 177.29, for a total value of $ 2,134,394.31. Following the transaction, the director now directly owns 3,543 shares of the company stock, valued at $ 628,138.47. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock valued at $ 94,057,396 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.
CVX stock opened at $ 148.38 on Monday. The company has a market cap of $ 291.54 billion, a P / E ratio of 13.95, a PEG ratio of 0.65 and a beta of 1.09. Chevron Co. has a twelve month low of $ 92.86 and a twelve month 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. The business has a fifty day moving average of $ 168.52 and a 200-day moving average of $ 149.19.
Chevron (NYSE: CVX – Get Rating) last released its 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 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 company revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $ 0.90 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 17.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were issued a $ 1.42 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $ 5.68 dividend on an annualized basis and a yield of 3.83%. Chevron’s dividend payout ratio is presently 53.38%.
A number of research analysts recently weighed in on CVX shares. Cowen raised their price objective on Chevron from $ 165.00 to $ 179.00 in a research note on Tuesday, June 7th. The Goldman Sachs Group lifted their price target on Chevron from $ 160.00 to $ 181.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 8th. JPMorgan Chase & Co. downgraded Chevron from a “neutral” rating to an “underweight” rating and set a $ 169.00 price target on the stock. in a research report on Friday, March 11th. Credit Suisse Group lifted 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. Finally, Royal Bank of Canada downgraded Chevron from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $ 160.00 to $ 165.00 in a research report on Thursday, April 21st. One 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 stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Buy” and an average target price of $ 170.48.
About Chevron: (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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