Bernicke Wealth Management Ltd. lifted its stake in Chevron Co. (NYSE:CVX) by 10.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,188 shares of the oil and gas company’s stock after purchasing an additional 560 shares during the quarter. Bernicke Wealth Management Ltd.’s holdings in Chevron were worth $757,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CVX. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Chevron in the 2nd quarter valued at approximately $413,622,000. Standard Life Aberdeen plc raised its position in Chevron by 78.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock worth $858,547,000 after buying an additional 2,994,612 shares during the last quarter. Millennium Management LLC raised its position in Chevron by 478.5% during the 2nd quarter. Millennium Management LLC now owns 2,015,778 shares of the oil and gas company’s stock worth $254,855,000 after buying an additional 1,667,339 shares during the last quarter. PointState Capital LP purchased a new position in Chevron during the 2nd quarter worth approximately $208,402,000. Finally, Investec Asset Management LTD purchased a new position in Chevron during the 2nd quarter worth approximately $143,820,000. 67.51% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $120.92, for a total transaction of $574,370.00. Following the sale, the executive vice president now owns 4,750 shares of the company’s stock, valued at approximately $574,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeanette L. Ourada sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $116.50, for a total transaction of $838,800.00. Following the sale, the insider now directly owns 7,200 shares in the company, valued at approximately $838,800. The disclosure for this sale can be found here. Insiders have sold a total of 26,200 shares of company stock worth $3,072,725 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.
A number of research firms have issued reports on CVX. Wells Fargo & Co reduced their price target on shares of Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a research report on Monday, November 5th. Credit Suisse Group set a $135.00 price target on shares of Chevron and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Bank of America reissued a “neutral” rating and set a $140.00 price target (up from $135.00) on shares of Chevron in a research report on Monday, November 5th. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $130.00 price target on shares of Chevron in a research report on Monday, January 7th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $133.20.
Shares of NYSE CVX opened at $116.95 on Tuesday. The company has a market cap of $224.67 billion, a PE ratio of 14.18, a PEG ratio of 4.03 and a beta of 1.02. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $131.08. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. Chevron had a net margin of 8.91% and a return on equity of 9.82%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. As a group, analysts forecast that Chevron Co. will post 6.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be paid a dividend of $1.19 per share. This is a boost from Chevron’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 54.30%.
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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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