Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in shares of Chevron Co. (NYSE:CVX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 65,030 shares of the oil and gas company’s stock, valued at approximately $7,641,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. acquired a new position in Chevron during the 2nd quarter worth $106,000. Acrospire Investment Management LLC grew its holdings in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. grew its holdings in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 502 shares in the last quarter. Ffcm LLC grew its holdings in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 822 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Chevron during the 2nd quarter worth $160,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Co. (NYSE CVX) opened at $112.14 on Monday. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $212,995.78, a PE ratio of 23.12, a PEG ratio of 2.20 and a beta of 1.15.
Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.00%. This is a positive change from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s payout ratio is presently 92.37%.
Several research analysts have weighed in on CVX shares. TheStreet raised shares of Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Royal Bank of Canada set a $100.00 price objective on shares of Chevron and gave the stock a “sell” rating in a report on Friday, October 27th. Jefferies Group reissued a “buy” rating and set a $137.00 price objective (up from $113.54) on shares of Chevron in a report on Monday, October 30th. Citigroup raised their price objective on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $130.30.
In other Chevron news, EVP Michael K. Wirth sold 110,771 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the completion of the transaction, the executive vice president now directly owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The disclosure for this sale can be found here. Insiders have sold a total of 250,878 shares of company stock valued at $29,107,461 over the last three months. 0.38% of the stock is currently owned by company insiders.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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