Martin & Co. Inc. TN lessened its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,475 shares of the oil and gas company’s stock after selling 640 shares during the period. Martin & Co. Inc. TN’s holdings in Chevron were worth $2,120,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CVX. NorthCrest Asset Manangement LLC increased its position in shares of Chevron by 247.8% during the second quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 5,700 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Chevron in the 1st quarter worth $36,000. HBC Financial Services PLLC purchased a new position in shares of Chevron in the first quarter worth $37,000. Tobam bought a new position in shares of Chevron during the first quarter valued at $38,000. Finally, Operose Advisors LLC boosted its position in shares of Chevron by 80.0% during the first quarter. Operose Advisors LLC now owns 234 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Wall Street Analysts Forecast Growth
CVX has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised shares of Chevron from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $184.00 to $182.00 in a report on Thursday, November 2nd. HSBC lifted their target price on shares of Chevron from $180.00 to $184.00 in a research report on Wednesday, August 9th. Mizuho lowered their price target on Chevron from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, November 14th. Morgan Stanley cut their price objective on Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Tuesday, October 24th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.89.
Chevron Trading Up 0.7 %
Shares of CVX traded up $1.01 during midday trading on Monday, hitting $145.47. The stock had a trading volume of 1,725,214 shares, compared to its average volume of 8,350,733. Chevron Co. has a 1 year low of $140.74 and a 1 year high of $187.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.97. The stock’s 50 day moving average is $158.68 and its 200 day moving average is $158.22. The firm has a market cap of $274.61 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.65). The firm had revenue of $54.08 billion during the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $5.56 EPS. As a group, analysts forecast that Chevron Co. will post 13.59 EPS for the current fiscal year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 4.15%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is presently 44.84%.
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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