Griffin Asset Management Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,198 shares of the oil and gas company’s stock after purchasing an additional 2,551 shares during the period. Chevron comprises about 2.5% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 4th biggest position. Griffin Asset Management Inc.’s holdings in Chevron were worth $14,046,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Alleghany Corp DE bought a new position in Chevron during the 4th quarter worth approximately $430,653,000. BlackRock Inc. lifted its position in shares of Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after purchasing an additional 2,356,734 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Chevron by 7,575.9% in the third quarter. Stifel Financial Corp now owns 1,920,517 shares of the oil and gas company’s stock worth $225,853,000 after purchasing an additional 1,895,497 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Chevron by 2,865.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,599,520 shares of the oil and gas company’s stock worth $200,242,000 after purchasing an additional 1,545,573 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Chevron in the fourth quarter worth $172,635,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.
Shares of Chevron traded up $2.51, reaching $125.10, during trading hours on Friday, according to Marketbeat Ratings. The stock had a trading volume of 8,911,771 shares, compared to its average volume of 6,608,619. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. The stock has a market cap of $234.18 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.06 and a beta of 1.14.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The business had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same period last year, the business earned $1.23 EPS. The business’s revenue was up 13.0% on a year-over-year basis. analysts expect that Chevron Co. will post 8.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 11th. Stockholders of record on Friday, May 18th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Thursday, May 17th. Chevron’s payout ratio is 121.08%.
A number of analysts have recently commented on CVX shares. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating in a research report on Friday, February 23rd. Vetr downgraded shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price on the stock. in a report on Monday, February 26th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.61 to $138.00 in a report on Wednesday, February 28th. They noted that the move was a valuation call. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Credit Suisse Group decreased their price objective on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, March 7th. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $135.52.
In related news, EVP James William Johnson sold 4,750 shares of Chevron stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $126.96, for a total value of $603,060.00. Following the completion of the sale, the executive vice president now owns 4,750 shares of the company’s stock, valued at approximately $603,060. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $130.41, for a total value of $3,260,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 391,250 shares of company stock worth $50,351,940 over the last quarter. Company insiders own 0.38% of the company’s stock.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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