Security National Trust Co. decreased its holdings in Chevron Co. (NYSE:CVX) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,669 shares of the oil and gas company’s stock after selling 1,013 shares during the quarter. Chevron accounts for approximately 1.5% of Security National Trust Co.’s investment portfolio, making the stock its 11th biggest holding. Security National Trust Co.’s holdings in Chevron were worth $4,716,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC lifted its position in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. lifted its position in shares of Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares in the last quarter. Ffcm LLC lifted its position in shares of Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of Chevron during the 2nd quarter worth approximately $160,000. Finally, Intellectus Partners LLC lifted its position in shares of Chevron by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock worth $162,000 after buying an additional 15 shares in the last quarter. 64.98% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on CVX. Royal Bank of Canada raised shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 target price on the stock in a research report on Friday, February 9th. Morgan Stanley lifted their target price on shares of Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Vetr cut shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a research report on Thursday, January 11th. Zacks Investment Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average 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 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts forecast that Chevron Co. will post 6.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.90%. This is a positive change from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is currently 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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