Smithbridge Asset Management Inc. DE raised its stake in shares of Chevron Co. (NYSE:CVX) by 38.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,540 shares of the oil and gas company’s stock after purchasing an additional 5,414 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Chevron were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in CVX. Beach Investment Management LLC. bought a new stake in shares of Chevron in the 2nd quarter worth approximately $2,588,000. Robshaw & Julian Associates Inc. lifted its holdings in shares of Chevron by 0.8% in the 2nd quarter. Robshaw & Julian Associates Inc. now owns 73,869 shares of the oil and gas company’s stock worth $6,749,000 after acquiring an additional 550 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Chevron by 3.5% in the 2nd quarter. Alps Advisors Inc. now owns 446,510 shares of the oil and gas company’s stock worth $46,584,000 after acquiring an additional 15,002 shares during the last quarter. Bristol Advisors LLC lifted its holdings in shares of Chevron by 76.9% in the 2nd quarter. Bristol Advisors LLC now owns 4,600 shares of the oil and gas company’s stock worth $480,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Chevron by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 10,179,488 shares of the oil and gas company’s stock worth $1,062,050,000 after acquiring an additional 185,215 shares during the last quarter. Institutional investors and hedge funds own 64.96% of the company’s stock.
Chevron stock opened at $115.40 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $220,443.20, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88.
Chevron (NYSE:CVX) last issued its quarterly earnings data 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). The company had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. equities research analysts predict that Chevron Co. will post 6.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 92.37%.
A number of equities research analysts have recently weighed in on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective for the company. in a report on Thursday, January 11th. Credit Suisse Group lowered their price objective on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, March 7th. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $130.00.
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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