Northeast Investment Management decreased its holdings in Chevron Co. (NYSE:CVX) by 5.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 160,085 shares of the oil and gas company’s stock after selling 9,531 shares during the quarter. Chevron makes up 1.7% of Northeast Investment Management’s holdings, making the stock its 19th biggest holding. Northeast Investment Management’s holdings in Chevron were worth $18,810,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new stake in Chevron in the second quarter valued at approximately $106,000. Acrospire Investment Management LLC raised its holdings in Chevron by 133.3% in the second 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. raised its holdings in Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 502 shares in the last quarter. Ffcm LLC raised its holdings in Chevron by 121.1% in the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 822 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in Chevron in the second quarter valued at approximately $160,000. 64.10% of the stock is owned by institutional investors and hedge funds.
CVX has been the topic of several analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $137.00 target price (up previously from $113.54) on shares of Chevron in a report on Monday, October 30th. Goldman Sachs Group cut shares of Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Friday, November 10th. Citigroup raised their target price on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $130.30.
Shares of Chevron Co. (NYSE CVX) opened at $110.98 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The firm has a market cap of $212,995.78, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. sell-side analysts expect that Chevron Co. will post 6.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.04%. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s payout ratio is presently 92.37%.
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Chevron Company Profile
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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