Midwest Professional Planners LTD. increased its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,111 shares of the oil and gas company’s stock after buying an additional 168 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Chevron were worth $600,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Roble Belko & Company Inc boosted its stake in Chevron by 26.6% in the 4th quarter. Roble Belko & Company Inc now owns 352 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 74 shares during the period. Tempus Wealth Planning LLC boosted its stake in Chevron by 1.8% in the 4th quarter. Tempus Wealth Planning LLC now owns 4,281 shares of the oil and gas company’s stock valued at $502,000 after purchasing an additional 76 shares during the period. Cadent Capital Advisors LLC boosted its stake in Chevron by 3.3% in the 4th quarter. Cadent Capital Advisors LLC now owns 2,543 shares of the oil and gas company’s stock valued at $298,000 after purchasing an additional 81 shares during the period. Holderness Investments Co. boosted its stake in Chevron by 0.7% in the 4th quarter. Holderness Investments Co. now owns 11,166 shares of the oil and gas company’s stock valued at $1,310,000 after purchasing an additional 82 shares during the period. Finally, Nadler Financial Group Inc. boosted its stake in Chevron by 4.2% in the 4th quarter. Nadler Financial Group Inc. now owns 2,089 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 85 shares during the period. Institutional investors own 65.89% of the company’s stock.
In related news, CFO Pierre R. Breber sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $132.90, for a total transaction of $2,458,650.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Inchausti sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total value of $923,160.00. The disclosure for this sale can be found here. Insiders sold a total of 452,115 shares of company stock worth $69,708,842 in the last quarter. Corporate insiders own 0.32% of the company’s stock.
Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The firm had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. During the same period in the previous year, the company earned $0.90 EPS. Chevron’s revenue for the quarter was up 69.8% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 17.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Thursday, May 19th will be given a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. Chevron’s dividend payout ratio (DPR) is presently 53.38%.
Several analysts recently issued reports on CVX shares. Wells Fargo & Company boosted their price target on Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Wednesday, March 2nd. UBS Group upped their target price on Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, April 5th. Barclays upped their target price on Chevron from $148.00 to $183.00 in a research report on Wednesday, March 9th. Finally, Bank of America upped their target price on Chevron from $154.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, February 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has an average rating of “Buy” and a consensus price target of $165.43.
Chevron Company Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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