King Luther Capital Management Corp boosted its stake in Chevron Co. (NYSE:CVX – Free Report) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,299,962 shares of the oil and gas company’s stock after purchasing an additional 4,482 shares during the quarter. King Luther Capital Management Corp’s holdings in Chevron were worth $204,549,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC grew its holdings in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 1,476 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after buying an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC grew its holdings in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after buying an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after buying an additional 250,840 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CVX has been the topic of a number of recent research reports. BNP Paribas upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Thursday, October 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Tuesday, October 24th. Sanford C. Bernstein upgraded shares of Chevron from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $184.00 to $182.00 in a research note on Thursday, November 2nd. The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $166.00 to $187.00 in a research note on Monday, July 31st. Finally, Morgan Stanley lowered their target price on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $187.89.
Chevron Trading Up 0.4 %
Shares of CVX stock traded up $0.55 on Monday, hitting $145.01. 1,077,263 shares of the company’s stock traded hands, compared to its average volume of 8,349,121. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. Chevron Co. has a one year low of $140.74 and a one year high of $187.81. The company’s fifty day simple moving average is $158.68 and its 200 day simple moving average is $158.22. The stock has a market capitalization of $273.74 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.73 and a beta of 1.16.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. During the same period in the prior year, the business posted $5.56 EPS. Chevron’s revenue for the quarter was down 18.9% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 13.59 EPS for the current year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $1.51 per share. The ex-dividend date is Thursday, November 16th. This represents a $6.04 annualized dividend and a yield of 4.17%. Chevron’s payout ratio is currently 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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