Morse Asset Management Inc boosted its position in Chevron Co. (NYSE:CVX) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,575 shares of the oil and gas company’s stock after purchasing an additional 1,426 shares during the period. Morse Asset Management Inc’s holdings in Chevron were worth $1,825,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. increased its holdings in Chevron by 8.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 14,572 shares of the oil and gas company’s stock valued at $1,824,000 after buying an additional 1,077 shares in the last quarter. Bogart Wealth LLC increased its holdings in Chevron by 3.7% in the fourth quarter. Bogart Wealth LLC now owns 15,316 shares of the oil and gas company’s stock valued at $1,917,000 after buying an additional 542 shares in the last quarter. Numeric Investors LLC increased its holdings in Chevron by 158.4% in the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after buying an additional 32,000 shares in the last quarter. Toronto Dominion Bank increased its holdings in Chevron by 24.7% in the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after buying an additional 130,990 shares in the last quarter. Finally, Shell Asset Management Co. increased its holdings in Chevron by 41.2% in the third quarter. Shell Asset Management Co. now owns 506,198 shares of the oil and gas company’s stock valued at $60,400,000 after buying an additional 147,738 shares in the last quarter. Hedge funds and other institutional investors own 64.98% of the company’s stock.
A number of research analysts have issued reports on CVX shares. Goldman Sachs cut shares of Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Credit Suisse Group dropped their price objective on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, March 7th. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 price objective for the company in a research note on Tuesday. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Scotiabank reissued a “buy” rating and set a $130.00 price objective on shares of Chevron in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Chevron has a consensus rating of “Buy” and a consensus target price of $129.79.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.22% and a net margin of 6.49%. The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same quarter last year, the business posted $0.22 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. sell-side analysts anticipate that Chevron Co. will post 6.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio (DPR) is 121.08%.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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