HM Payson & Co. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 8.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 169,927 shares of the oil and gas company’s stock after selling 15,798 shares during the period. HM Payson & Co.’s holdings in Chevron were worth $20,478,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of CVX. Roffman Miller Associates Inc. PA purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Price Wealth LLC boosted its holdings in Chevron by 105.8% during the fourth quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock worth $34,000 after buying an additional 146 shares in the last quarter. Birch Capital Management LLC purchased a new stake in Chevron during the fourth quarter worth $45,000. Finally, Quantum Capital Management acquired a new stake in Chevron during the third quarter valued at $51,000. Hedge funds and other institutional investors own 66.85% of the company’s stock.
A number of research firms have weighed in on CVX. ValuEngine raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup lowered their target price on shares of Chevron from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. HSBC restated a “neutral” rating and set a $115.00 target price on shares of Chevron in a research report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target on Chevron from $127.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Finally, Morgan Stanley reduced their price target on Chevron from $137.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $122.00.
In other Chevron news, Director John Frank acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $96.59 per share, for a total transaction of $96,590.00. Following the completion of the purchase, the director now directly owns 5,114 shares in the company, valued at $493,961.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 67,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $121.07, for a total value of $8,172,225.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
CVX stock traded up $4.17 on Thursday, reaching $73.44. The company had a trading volume of 5,446,599 shares, compared to its average volume of 21,022,450. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 1.07. The company has a market cap of $125.07 billion, a P/E ratio of 48.64, a PEG ratio of 13.74 and a beta of 1.04. Chevron Co. has a 1 year low of $51.60 and a 1 year high of $127.34. The company’s fifty day moving average is $93.60 and its 200 day moving average is $111.72.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.02. Chevron had a return on equity of 8.29% and a net margin of 2.00%. The firm had revenue of $36.35 billion for the quarter, compared to analyst estimates of $38.98 billion. During the same period last year, the company earned $1.95 EPS. The firm’s quarterly revenue was down 14.2% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 0.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th were paid a $1.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 7.03%. This is a positive change from Chevron’s previous quarterly dividend of $1.19. Chevron’s dividend payout ratio (DPR) is 82.30%.
Chevron Company Profile
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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