Montag A & Associates Inc. Has $8.38 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Montag A & Associates Inc. cut its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,716 shares of the oil and gas company’s stock after selling 3,152 shares during the quarter. Montag A & Associates Inc.’s holdings in Chevron were worth $8,383,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its stake in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at approximately $3,058,235,000. Imprint Wealth LLC boosted its position in Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares during the last quarter. Morgan Stanley boosted its position in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Chevron by 570.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after buying an additional 2,393,200 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX traded up $1.04 during midday trading on Monday, hitting $152.08. The company’s stock had a trading volume of 6,707,649 shares, compared to its average volume of 9,015,317. The firm has a market capitalization of $287.09 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.81 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $147.87 and a 200 day moving average price of $154.47. Chevron Co. has a one year low of $139.62 and a one year high of $173.51.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the previous year, the firm posted $4.09 EPS. The firm’s revenue was down 16.5% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 13.03 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 16th will be given a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.29%. Chevron’s dividend payout ratio (DPR) is 53.17%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Mizuho reduced their target price on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Monday, October 30th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research note on Tuesday, January 16th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.95.

Read Our Latest Research Report on CVX

Chevron Profile

(Free Report)

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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