CapWealth Advisors LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,505 shares of the oil and gas company’s stock after buying an additional 969 shares during the period. CapWealth Advisors LLC’s holdings in Chevron were worth $6,765,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Live Your Vision LLC lifted its holdings in Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 616 shares during the period. Point72 Asia Hong Kong Ltd lifted its holdings in 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 worth $142,000 after acquiring an additional 1,243 shares during the period. Shine Investment Advisory Services Inc. lifted its holdings in Chevron by 45.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 462 shares during the period. BigSur Wealth Management LLC bought a new stake in Chevron during the second quarter worth $200,000. Finally, First National Bank of Hutchinson bought a new stake in Chevron during the second quarter worth $200,000. 64.67% of the stock is currently owned by institutional investors.
NYSE:CVX opened at $115.49 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22. Chevron Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The firm has a market cap of $224.02 billion, a P/E ratio of 31.21, a P/E/G ratio of 2.03 and a beta of 1.13.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The company had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 8.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.88%. Chevron’s payout ratio is 121.08%.
In related news, insider James William Johnson sold 9,500 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $118.59, for a total transaction of $1,126,605.00. Following the sale, the insider now directly owns 9,500 shares in the company, valued at approximately $1,126,605. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 23,750 shares of company stock worth $2,821,833. 0.38% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on CVX shares. Wells Fargo & Co lowered their target price on Chevron from $160.00 to $158.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Bank of America restated a “neutral” rating and issued a $140.00 target price (up from $135.00) on shares of Chevron in a research note on Monday, November 5th. Credit Suisse Group upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price on the stock in a research note on Monday, November 5th. Piper Jaffray Companies restated an “overweight” rating on shares of Chevron in a research note on Tuesday, October 23rd. Finally, Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $130.00 to $115.00 in a research note on Wednesday, October 3rd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and an average target price of $139.13.
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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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