BTR Capital Management Inc. decreased its position in Chevron Co. (NYSE:CVX) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 116,365 shares of the oil and gas company’s stock after selling 975 shares during the quarter. Chevron accounts for approximately 2.7% of BTR Capital Management Inc.’s holdings, making the stock its 10th biggest holding. BTR Capital Management Inc.’s holdings in Chevron were worth $13,270,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Capital Management LLC lifted its position in Chevron by 6.2% during the 4th quarter. Advisors Capital Management LLC now owns 6,705 shares of the oil and gas company’s stock valued at $839,000 after purchasing an additional 394 shares during the period. Norris Perne & French LLP MI lifted its position in Chevron by 8.0% during the 4th quarter. Norris Perne & French LLP MI now owns 5,597 shares of the oil and gas company’s stock valued at $701,000 after purchasing an additional 416 shares during the period. Cedar Capital LLC lifted its position in Chevron by 13.2% during the 4th quarter. Cedar Capital LLC now owns 3,593 shares of the oil and gas company’s stock valued at $450,000 after purchasing an additional 418 shares during the period. Cibc Bank USA lifted its position in Chevron by 1.8% during the 4th quarter. Cibc Bank USA now owns 23,147 shares of the oil and gas company’s stock valued at $2,899,000 after purchasing an additional 420 shares during the period. Finally, Sky Investment Group LLC lifted its position in Chevron by 1.3% during the 4th quarter. Sky Investment Group LLC now owns 34,113 shares of the oil and gas company’s stock valued at $4,271,000 after purchasing an additional 440 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on CVX. Raymond James upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a research report on Monday, June 18th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 target price on the stock in a research report on Wednesday, June 13th. Mizuho began coverage on shares of Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 target price on the stock. Wells Fargo & Co upped their target price on shares of Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. Finally, Credit Suisse Group upped their target price on shares of Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $135.52.
In other news, EVP Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $130.41, for a total transaction of $3,260,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $126.96, for a total transaction of $603,060.00. Following the transaction, the executive vice president now directly owns 4,750 shares of the company’s stock, valued at $603,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 391,250 shares of company stock valued at $50,351,940. 0.38% of the stock is owned by company insiders.
Chevron opened at $122.61 on Tuesday, according to Marketbeat.com. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $238.97 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.10 and a beta of 1.14.
Chevron (NYSE:CVX) last posted its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The business had revenue of $37.76 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same period in the prior year, the business earned $1.23 EPS. Chevron’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 8.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 18th were paid a dividend of $1.12 per share. The ex-dividend date was Thursday, May 17th. This represents a $4.48 dividend on an annualized basis and a yield of 3.65%. Chevron’s payout ratio is 121.08%.
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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