Gratus Capital LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 7.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,591 shares of the oil and gas company’s stock after purchasing an additional 1,002 shares during the quarter. Gratus Capital LLC’s holdings in Chevron were worth $1,816,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Thoroughbred Financial Services LLC grew its stake in shares of Chevron by 12,204.4% in the second quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock worth $325,980,000 after acquiring an additional 3,233,312 shares during the period. PGGM Investments bought a new stake in shares of Chevron in the second quarter worth approximately $164,371,000. Nordea Investment Management AB grew its stake in shares of Chevron by 298.6% in the fourth quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock worth $184,416,000 after acquiring an additional 1,269,889 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Chevron in the second quarter worth approximately $133,556,000. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Chevron in the fourth quarter worth approximately $88,758,000. Institutional investors and hedge funds own 65.79% of the company’s stock.
In related news, Director Debra L. Reed bought 4,250 shares of the stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $118.14 per share, with a total value of $502,095.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now directly owns 33,750 shares in the company, valued at approximately $4,239,000. The disclosure for this sale can be found here. Insiders have sold 71,750 shares of company stock worth $8,793,900 in the last ninety days. Insiders own 0.31% of the company’s stock.
Shares of NYSE:CVX opened at $121.77 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The company has a market capitalization of $231.18 billion, a P/E ratio of 14.76, a P/E/G ratio of 3.03 and a beta of 1.01. The firm’s 50 day simple moving average is $119.43 and its two-hundred day simple moving average is $121.28.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 6.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Friday, August 16th. Chevron’s dividend payout ratio is currently 57.70%.
A number of brokerages have recently commented on CVX. Barclays began coverage on shares of Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. Morgan Stanley reduced their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price objective on the stock. ValuEngine downgraded shares of Chevron from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Cowen set a $140.00 price objective on shares of Chevron and gave the stock a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $136.22.
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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