Oakworth Capital Inc. lifted its holdings in Chevron Co. (NYSE: CVX – Get Rating) by 2.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,328 shares of the oil and gas company stock after purchasing an additional 409 shares during the period. Oakworth Capital Inc.’s holdings in Chevron were worth $ 2,496,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Chevron in the 4th quarter worth approximately $ 3,111,594,000. Morgan Stanley increased its holdings in Chevron by 6.9% in the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company stock worth $ 2,440,693,000 after acquiring an additional 1,513,296 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Chevron in the 4th quarter worth approximately $ 119,040,000. Invesco Ltd. increased its holdings in Chevron by 6.8% in the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company stock worth $ 1,689,870,000 after acquiring an additional 917,773 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Chevron by 534.8% in 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 acquiring an additional 797,701 shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company stock.
Several equities research analysts recently issued reports on CVX shares. Piper Sandler increased their target price on shares of Chevron from $ 150.00 to $ 173.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Morgan Stanley reduced their target price on shares of Chevron from $ 188.00 to $ 185.00 and set an “equal weight” rating for the company in a report on Monday, June 6th. Raymond James increased their price objective on shares of Chevron from $ 173.00 to $ 191.00 and gave the company an “outperform” rating in a report on Monday, April 18th. JPMorgan Chase & Co. lowered shares of Chevron from a “neutral” rating to an “underweight” rating and set a $ 169.00 price objective for the company. in a report on Friday, March 11th. Finally, Citigroup increased their price objective on shares of Chevron from $ 160.00 to $ 170.00 and gave the company a “neutral” rating in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $ 170.48.
Shares of CVX opened at $ 154.59 on Wednesday. The company has a market cap of $ 303.74 billion, a PE ratio of 14.53, a P / E / G ratio of 0.65 and a beta of 1.09. The business has a fifty day moving average of $ 167.88 and a 200 day moving average of $ 149.46. Chevron Co. has a 52-week low of $ 92.86 and a 52-week 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.
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 the consensus estimate of $ 3.44 by ($ 0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business had revenue of $ 54.37 billion for the quarter, compared to the estimate consensus of $ 54.96 billion. During the same quarter last year, the business posted $ 0.90 earnings per share. The firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 17.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were given a dividend of $ 1.42 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $ 5.68 annualized dividend and a dividend yield of 3.67%. Chevron’s dividend payout ratio (DPR) is 53.38%.
In other news, Director Wanda M. Austin sold 12,039 shares of Chevron 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 sale, the director now directly owns 3,543 shares in the company, valued at $ 628,138.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eimear P. Bonner sold 478 shares of Chevron stock in a transaction on Friday, May 6th. The stock was sold at an average price of $ 169.21, for a total value of $ 80,882.38. Following the sale, the vice president now owns 358 shares of the company stock, valued at $ 60,577.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 561,726 shares of company stock valued at $ 94,057,396. Corporate insiders own 0.32% of the company stock.
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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