RPG Investment Advisory LLC reduced its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 107,798 shares of the oil and gas company’s stock after selling 2,791 shares during the quarter. Chevron comprises approximately 2.9% of RPG Investment Advisory LLC’s portfolio, making the stock its 8th largest holding. RPG Investment Advisory LLC’s holdings in Chevron were worth $16,962,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HBC Financial Services PLLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $37,000. Worth Asset Management LLC bought a new position in Chevron during the first quarter valued at approximately $36,000. Tobam bought a new position in Chevron during the first quarter valued at approximately $38,000. Operose Advisors LLC lifted its stake in Chevron by 80.0% in the first quarter. Operose Advisors LLC now owns 234 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 104 shares during the last quarter. Finally, Nvwm LLC grew its position in Chevron by 73.8% in the first quarter. Nvwm LLC now owns 252 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 107 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Tuesday, October 24th. UBS Group raised their target price on Chevron from $209.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Raymond James decreased their price target on Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. BNP Paribas raised Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Thursday, October 12th. Finally, Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $200.00 in a report on Monday, October 30th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.89.
Chevron Stock Performance
CVX traded up $0.99 on Monday, hitting $145.45. 2,037,419 shares of the stock traded hands, compared to its average volume of 8,352,333. The business has a fifty day moving average price of $158.68 and a two-hundred day moving average price of $158.22. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $274.57 billion, a PE ratio of 10.82, a P/E/G ratio of 0.73 and a beta of 1.16. Chevron Co. has a 52 week low of $140.74 and a 52 week high of $187.81.
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.56 earnings per share. On average, research analysts predict 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. Stockholders of record on Friday, November 17th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s payout ratio is 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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