Tyler Stone Wealth Management bought a new stake in Chevron Co. (NYSE: CVX – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,254 shares of the oil and gas company stock, valued at approximately $ 265,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its stake in Chevron by 6.9% during 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 during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Chevron during the 4th quarter worth approximately $ 119,040,000. Invesco Ltd. boosted its stake in Chevron by 6.8% during 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 during the last quarter. Voloridge Investment Management LLC bought a new position in Chevron in the third quarter valued at approximately $ 80,980,000. Finally, Los Angeles Capital Management LLC lifted its stake in 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 buying an additional 797,701 shares in the last quarter. 65.89% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on CVX shares. 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 note on Thursday, May 19th. Morgan Stanley cut their price target on shares of Chevron from $ 188.00 to $ 185.00 and set an “equal weight” rating on the stock in a research note on Monday, June 6th. Cowen lifted their price target on shares of Chevron from $ 165.00 to $ 179.00 and gave the company an “outperform” rating in a research note on Tuesday, June 7th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $ 167.00 price target on the stock in a research note on Wednesday, March 2nd. Finally, Credit Suisse Group lifted their price target on shares of Chevron from $ 190.00 to $ 202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $ 170.48.
NYSE CVX opened at $ 155.48 on Friday. The firm has a market capitalization of $ 305.49 billion, a P / E ratio of 14.61, a price-to-earnings-growth ratio of 0.72 and a beta of 1.09. The firm’s fifty day moving average price is $ 168.95 and its two-hundred day moving average price is $ 148.45. Chevron Co. has a 1 year low of $ 92.86 and a 1 year high of $ 182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.
Chevron (NYSE: CVX – Get Rating) last issued its quarterly earnings data 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). The company had revenue of $ 54.37 billion during the quarter, compared to the estimate consensus of $ 54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the previous year, the company earned $ 0.90 earnings per share. On average, research analysts anticipate that Chevron Co. will post 17.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were given a $ 1.42 dividend. This represents a $ 5.68 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s payout ratio is presently 53.38%.
In related news, VP Eimear P. Bonner sold 478 shares of the company stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $ 169.21, for a total value of $ 80,882.38. Following the transaction, the vice president now directly owns 358 shares in the company, valued at $ 60,577.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the company stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $ 160.00, for a total transaction of $ 928,800.00. Following the completion of the transaction, the director now owns 22,978 shares in the company, valued at $ 3,676,480. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock worth $ 94,057,396 over the last three months. Insiders own 0.32% of the company stock.
Chevron 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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