Johnson Financial Group Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,949 shares of the oil and gas company’s stock after selling 1,184 shares during the period. Johnson Financial Group Inc.’s holdings in Chevron were worth $3,874,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in CVX. Fusion Family Wealth LLC raised its holdings in Chevron by 192.6% in the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 838 shares during the last quarter. Lenox Wealth Advisors Inc. raised its holdings in Chevron by 15,555.6% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 1,409 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 1,400 shares during the last quarter. Lesa Sroufe & Co purchased a new position in Chevron in the 3rd quarter worth approximately $201,000. Chase Investment Counsel Corp purchased a new position in Chevron in the 3rd quarter worth approximately $202,000. Finally, WCM Investment Management CA purchased a new position in Chevron in the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors own 64.42% of the company’s stock.
In other news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph C. Geagea sold 12,000 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $128.04, for a total transaction of $1,536,480.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 377,000 shares of company stock valued at $48,519,200. Insiders own 0.46% of the company’s stock.
Shares of CVX opened at $127.86 on Monday. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. The firm has a market cap of $244.24 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 2.46 and a beta of 1.14.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. sell-side analysts expect that Chevron Co. will post 7.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Friday, May 18th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, May 17th. Chevron’s payout ratio is 121.08%.
A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price objective for the company in a report on Friday, February 9th. Morgan Stanley boosted their price objective on shares of Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group boosted their price objective on shares of Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Vetr lowered shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price objective for the company. in a report on Monday, February 26th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. Chevron presently has an average rating of “Buy” and a consensus target price of $131.92.
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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