M&R Capital Management Inc. raised its holdings in Chevron Co. (NYSE: CVX – Get Rating) by 6.1% during the first quarter, HoldingsChannel reports. The firm owned 6,645 shares of the oil and gas company stock after acquiring an additional 384 shares during the quarter. M&R Capital Management Inc.’s holdings in Chevron were worth $ 1,082,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of CVX. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at $ 3,111,594,000. Morgan Stanley boosted its holdings 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 acquiring an additional 1,513,296 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chevron during the 4th quarter valued at $ 119,040,000. Invesco Ltd. boosted its holdings 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 acquiring an additional 917,773 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of 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 valued at $ 111,113,000 after acquiring an additional 797,701 shares in the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
In other Chevron news, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction dated 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 owns 3,543 shares in the company, valued at approximately $ 628,138.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James William Johnson sold 55,600 shares of Chevron stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 165.94, for a total value of $ 9,226,264.00. Following the transaction, the executive vice president now owns 1,243 shares of the company stock, valued at approximately $ 206,263.42. The disclosure for this sale can be found here. Insiders sold a total of 561,726 shares of company stock valued at $ 94,057,396 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on CVX shares. Wells Fargo & Company raised their price objective on Chevron from $ 150.00 to $ 184.00 and gave the company an “overweight” rating in a report on Friday, March 11th. UBS Group raised their price objective on Chevron from $ 150.00 to $ 192.00 and gave the company a “buy” rating in a report on Tuesday, April 5th. JPMorgan Chase & Co. downgraded Chevron from a “neutral” rating to an “underweight” rating and set a $ 169.00 price objective on the stock. in a report on Friday, March 11th. Cowen raised their target price on Chevron from $ 165.00 to $ 179.00 in a research report on Tuesday, June 7th. Finally, Credit Suisse Group raised their target price on Chevron from $ 190.00 to $ 202.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $ 170.48.
Shares of Chevron stock opened at $ 148.38 on Friday. Chevron Co. has a one year low of $ 92.86 and a one year high of $ 182.40. 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. The business has a 50-day simple moving average of $ 168.52 and a 200 day simple moving average of $ 148.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.
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 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 during the quarter, compared to the estimate consensus of $ 54.96 billion. During the same period in the previous year, the firm earned $ 0.90 earnings per share. The business’s quarterly revenue was up 69.8% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 17.5 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were given a $ 1.42 dividend. This represents a $ 5.68 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend 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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