QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Chevron Co. (NYSE:CVX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,600 shares of the oil and gas company’s stock, valued at approximately $494,000.
A number of other large investors also recently made changes to their positions in CVX. Stockman Wealth Management Inc. raised its position in shares of Chevron by 2.4% in the 1st quarter. Stockman Wealth Management Inc. now owns 30,609 shares of the oil and gas company’s stock worth $3,286,000 after acquiring an additional 714 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Chevron in the 1st quarter worth about $1,205,000. SRS Capital Advisors Inc. grew its stake in shares of Chevron by 8.8% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,994 shares of the oil and gas company’s stock valued at $321,000 after buying an additional 242 shares during the period. Investec Asset Management LTD grew its stake in shares of Chevron by 24.2% in the 1st quarter. Investec Asset Management LTD now owns 671,544 shares of the oil and gas company’s stock valued at $72,104,000 after buying an additional 130,829 shares during the period. Finally, Good Life Advisors LLC grew its stake in shares of Chevron by 10.6% in the 1st quarter. Good Life Advisors LLC now owns 8,364 shares of the oil and gas company’s stock valued at $910,000 after buying an additional 802 shares during the period. 62.84% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on CVX. Jefferies Group LLC set a $135.00 target price on Chevron and gave the stock a “buy” rating in a research note on Saturday, June 24th. Barclays PLC reaffirmed an “overweight” rating and issued a $125.00 price target (up previously from $116.00) on shares of Chevron in a report on Wednesday, July 12th. Scotiabank reaffirmed a “buy” rating on shares of Chevron in a report on Friday. BidaskClub cut shares of Chevron from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Macquarie cut shares of Chevron from an “outperform” rating to a “neutral” rating and set a $105.00 price target on the stock. in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $116.40.
Chevron Co. (NYSE CVX) traded down 0.039% during trading on Friday, reaching $114.405. 5,113,287 shares of the company were exchanged. The company’s 50-day moving average price is $109.22 and its 200-day moving average price is $107.18. The stock has a market capitalization of $216.80 billion, a P/E ratio of 37.096 and a beta of 1.23. Chevron Co. has a 1-year low of $97.53 and a 1-year high of $119.00.
Chevron (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. Chevron had a net margin of 4.47% and a return on equity of 3.97%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.78) EPS. On average, equities analysts forecast that Chevron Co. will post $3.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. Chevron’s payout ratio is 140.26%.
In related news, Director Linnet F. Deily sold 2,312 shares of Chevron stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock worth $8,008,343 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.
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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