Nuveen Asset Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,608,105 shares of the oil and gas company’s stock after selling 1,227,028 shares during the period. Nuveen Asset Management LLC owned approximately 0.60% of Chevron worth $1,362,211,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of CVX. F3Logic LLC grew its holdings in shares of Chevron by 3.4% in the third quarter. F3Logic LLC now owns 32,134 shares of the oil and gas company’s stock worth $3,271,000 after purchasing an additional 1,048 shares during the last quarter. Zacks Investment Management grew its holdings in shares of Chevron by 2.9% in the third quarter. Zacks Investment Management now owns 854,830 shares of the oil and gas company’s stock worth $86,723,000 after purchasing an additional 24,107 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Chevron by 16.0% in the third quarter. Invesco Ltd. now owns 13,482,487 shares of the oil and gas company’s stock worth $1,367,797,000 after purchasing an additional 1,859,425 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Chevron by 0.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 357,542 shares of the oil and gas company’s stock worth $36,273,000 after purchasing an additional 978 shares during the last quarter. Finally, Cantor Fitzgerald Investment Adviser L.P. lifted its stake in Chevron by 1.4% in the fourth quarter. Cantor Fitzgerald Investment Adviser L.P. now owns 85,974 shares of the oil and gas company’s stock worth $10,089,000 after acquiring an additional 1,176 shares during the period. Institutional investors and hedge funds own 65.89% of the company’s stock.
Several analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Citigroup increased their price target on shares of Chevron from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 19th. Cowen increased their price target on shares of Chevron from $140.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, March 3rd. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $189.00 price target for the company. in a research report on Friday, May 13th. Finally, UBS Group increased their price objective on shares of Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, April 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $168.76.
CVX traded up $1.18 during trading on Thursday, reaching $176.59. 11,205,323 shares of the stock traded hands, compared to its average volume of 15,004,754. The stock has a market cap of $346.97 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.09. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $177.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock’s 50-day simple moving average is $166.01 and its two-hundred day simple moving average is $141.92.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 16.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Thursday, May 19th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.22%. Chevron’s dividend payout ratio (DPR) is currently 53.38%.
Chevron 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.
- Get a free copy of the StockNews.com research report on Chevron (CVX)
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