Cascade Investment Advisors Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 53.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,369 shares of the oil and gas company’s stock after selling 1,600 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Chevron were worth $173,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Live Your Vision LLC increased its holdings in shares of Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 616 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Chevron during the first quarter valued at about $110,000. Litman Gregory Asset Management LLC increased its holdings in shares of Chevron by 566.9% during the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 975 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its holdings in shares of Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Farmers National Bank increased its holdings in shares of Chevron by 3.0% during the fourth quarter. Farmers National Bank now owns 39,825 shares of the oil and gas company’s stock valued at $186,000 after acquiring an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Shares of NYSE:CVX opened at $124.84 on Tuesday. Chevron Co. has a twelve month low of $108.02 and a twelve month high of $133.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. The company has a market capitalization of $234.31 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company had revenue of $42.24 billion during the quarter, compared to analysts’ expectations of $46.62 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 8.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were given a $1.12 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.59%. Chevron’s dividend payout ratio is presently 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the sale, the insider now owns 4,750 shares in the company, valued at approximately $551,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective on the stock in a report on Wednesday, June 13th. Redburn Partners downgraded shares of Chevron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $130.00 to $115.00 in a report on Wednesday, October 3rd. Barclays increased their price target on shares of Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Credit Suisse Group set a $132.00 price target on shares of Chevron and gave the stock a “hold” rating in a report on Sunday, July 1st. Finally, Macquarie downgraded shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a report on Tuesday, July 3rd. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Chevron presently has a consensus rating of “Buy” and a consensus target price of $136.83.
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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