Lodestar Investment Counsel LLC IL grew its position in Chevron Co. (NYSE:CVX) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,029 shares of the oil and gas company’s stock after buying an additional 2,000 shares during the period. Lodestar Investment Counsel LLC IL’s holdings in Chevron were worth $5,011,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in Chevron during the 2nd quarter valued at approximately $2,588,000. Strategic Financial Group LLC lifted its stake in Chevron by 2.2% during the 2nd quarter. Strategic Financial Group LLC now owns 9,181 shares of the oil and gas company’s stock valued at $958,000 after acquiring an additional 202 shares during the period. Usca Ria LLC lifted its stake in Chevron by 9.5% during the 2nd quarter. Usca Ria LLC now owns 43,215 shares of the oil and gas company’s stock valued at $4,509,000 after acquiring an additional 3,762 shares during the period. Coho Partners Ltd. lifted its stake in Chevron by 26.9% during the 2nd quarter. Coho Partners Ltd. now owns 1,063,327 shares of the oil and gas company’s stock valued at $110,937,000 after acquiring an additional 225,133 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Chevron by 23.9% during the 2nd quarter. Prudential Financial Inc. now owns 4,325,183 shares of the oil and gas company’s stock valued at $451,247,000 after acquiring an additional 835,060 shares during the period. Institutional investors and hedge funds own 64.98% of the company’s stock.
Several brokerages have commented on CVX. Vetr upgraded 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. Credit Suisse Group decreased 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $113.61 to $138.00 in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Finally, BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $129.79.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. Chevron’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. analysts expect that Chevron Co. will post 6.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.90%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is presently 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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