Virginia Retirement Systems ET AL lifted its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 796,416 shares of the oil and gas company’s stock after acquiring an additional 7,884 shares during the quarter. Chevron comprises approximately 1.1% of Virginia Retirement Systems ET AL’s holdings, making the stock its 9th biggest position. Virginia Retirement Systems ET AL’s holdings in Chevron were worth $90,823,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Institutional & Family Asset Management LLC raised its holdings in shares of Chevron by 2.9% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 37,714 shares of the oil and gas company’s stock worth $4,431,000 after purchasing an additional 1,064 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Chevron by 9.1% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,631,817 shares of the oil and gas company’s stock worth $896,738,000 after purchasing an additional 638,516 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Chevron by 1.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 5,304,379 shares of the oil and gas company’s stock worth $623,265,000 after purchasing an additional 74,650 shares during the period. AustralianSuper Pty Ltd bought a new stake in Chevron during the 3rd quarter valued at $98,077,000. Finally, Atlantic Trust Group LLC raised its holdings in Chevron by 8.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 464,115 shares of the oil and gas company’s stock valued at $54,534,000 after acquiring an additional 36,960 shares during the period. Hedge funds and other institutional investors own 64.28% of the company’s stock.
In related news, CEO Michael K. Wirth sold 130,000 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $128.00, for a total value of $16,640,000.00. Following the completion of the transaction, the chief executive officer now directly owns 130,000 shares in the company, valued at $16,640,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The disclosure for this sale can be found here. Insiders sold 391,250 shares of company stock valued at $50,351,940 over the last quarter. 0.46% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on the stock. Macquarie cut shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a report on Tuesday. Wells Fargo & Co boosted their target price on shares of Chevron from $138.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, April 12th. They noted that the move was a valuation call. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price on the stock in a report on Wednesday, March 28th. Mizuho assumed coverage on shares of Chevron in a report on Friday, June 8th. They set a “buy” rating and a $145.00 target price on the stock. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $135.77.
Chevron stock opened at $124.73 on Wednesday. The firm has a market capitalization of $237.35 billion, a PE ratio of 27.19, a PEG ratio of 2.08 and a beta of 1.13. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.45. The firm had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. sell-side analysts anticipate that Chevron Co. will post 8.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 11th. Stockholders of record on Friday, May 18th were issued a $1.12 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $4.48 annualized dividend and a dividend yield of 3.59%. Chevron’s payout ratio is currently 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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