Pin Oak Investment Advisors Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,102 shares of the oil and gas company’s stock after selling 466 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Chevron were worth $1,151,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Live Your Vision LLC increased its position in shares of Chevron by 308.0% in 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 in the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Chevron by 20,716.7% in 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 in the last quarter. Shine Investment Advisory Services Inc. increased its position in shares of Chevron by 45.4% in 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 in the last quarter. First National Bank of Hutchinson purchased a new position in shares of Chevron in the second quarter worth approximately $200,000. Finally, Mosaic Financial Partners Inc. purchased a new position in shares of Chevron in the second quarter worth approximately $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 quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $221.48 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. Chevron Co. has a 12-month low of $107.54 and a 12-month high of $133.88.
Chevron (NYSE:CVX) last posted its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.05. The firm had revenue of $43.99 billion during the quarter, compared to analysts’ expectations of $47.17 billion. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, analysts anticipate that Chevron Co. will post 8.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
Several research firms recently commented on CVX. Wells Fargo & Co decreased their price target on shares of Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Bank of America restated a “neutral” rating and set a $140.00 price target (up from $135.00) on shares of Chevron in a report on Monday, November 5th. Credit Suisse Group upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 price target for the company in a report on Monday, November 5th. Piper Jaffray Companies restated an “overweight” rating on shares of Chevron in a report on Tuesday, October 23rd. Finally, Redburn Partners cut shares of Chevron from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $130.00 to $115.00 in a report on Wednesday, October 3rd. Seven 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. The company has a consensus rating of “Buy” and a consensus price target of $139.13.
In other Chevron news, EVP James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $120.92, for a total value of $574,370.00. Following the completion of the sale, the executive vice president now directly owns 4,750 shares in the company, valued at $574,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 23,750 shares of company stock valued at $2,821,833 over the last quarter. Corporate insiders own 0.38% of the company’s stock.
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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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