Wealthquest Corp increased its holdings in shares of Chevron Co. (NYSE: CVX – Get Rating) by 20.5% during the fourth quarter, Holdings Channel reports. The fund owned 6,411 shares of the oil and gas company stock after purchasing an additional 1,092 shares during the period. Wealthquest Corp’s holdings in Chevron were worth $ 752,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Geode Capital Management LLC lifted its holdings in 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 worth $ 3,776,323,000 after buying an additional 667,875 shares in the last quarter. Morgan Stanley lifted its holdings 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 buying an additional 1,513,296 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $ 1,702,446,000 after buying an additional 254,353 shares in the last quarter. Invesco Ltd. lifted its holdings 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 buying an additional 917,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 worth $ 977,069,000 after buying an additional 346,881 shares in the last quarter. Institutional investors and hedge funds own 65.89% of the company stock.
In other news, Director Enrique Hernandez, Jr. sold 5,805 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $ 160.00, for a total value of $ 928,800.00. Following the completion of the transaction, the director now owns 22,978 shares in the company, valued at approximately $ 3,676,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eimear P. Bonner sold 478 shares of the firm’s 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 completion of the transaction, the vice president now owns 358 shares of the company stock, valued at approximately $ 60,577.18. 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 in the last 90 days. 0.32% of the stock is owned by corporate insiders.
CVX stock opened at $ 164.26 on Thursday. The stock has a 50-day moving average price of $ 169.18 and a two-hundred day moving average price of $ 148.17. The stock has a market cap of $ 322.74 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. 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 Co. has a 1 year low of $ 92.86 and a 1 year high of $ 182.40.
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 (EPS) 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%. Chevron’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter last year, the company posted $ 0.90 EPS. On average, analysts forecast that Chevron Co. will post 17.25 earnings per share 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 issued a $ 1.42 dividend. This represents a $ 5.68 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s payout ratio is 53.38%.
Several research analysts have issued reports on the company. Barclays upped their price target on Chevron from $ 183.00 to $ 196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. Societe Generale downgraded Chevron from a “buy” rating to a “hold” rating and set a $ 175.00 price target on the stock. in a research note on Friday, May 20th. DZ Bank raised 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. Credit Suisse Group increased their price target on Chevron from $ 190.00 to $ 202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Finally, BMO Capital Markets increased their price target on Chevron from $ 140.00 to $ 170.00 in a research note on Wednesday, March 2nd. One investment 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, the stock has a consensus 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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