Baird Financial Group Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,217,066 shares of the oil and gas company’s stock after buying an additional 57,014 shares during the period. Chevron makes up 1.1% of Baird Financial Group Inc.’s portfolio, making the stock its 11th largest holding. Baird Financial Group Inc. owned approximately 0.06% of Chevron worth $152,365,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Chevron by 1.9% in the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after acquiring an additional 2,356,734 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 7.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,499,859 shares of the oil and gas company’s stock worth $1,586,183,000 after acquiring an additional 941,196 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 4.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,084,214 shares of the oil and gas company’s stock worth $1,302,404,000 after acquiring an additional 424,607 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Chevron by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 10,378,493 shares of the oil and gas company’s stock worth $1,219,409,000 after acquiring an additional 199,005 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Chevron by 26.4% in the 3rd quarter. Boston Partners now owns 9,031,433 shares of the oil and gas company’s stock worth $1,061,193,000 after acquiring an additional 1,884,320 shares during the last quarter. 64.99% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron stock opened at $129.46 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Co. has a 52-week low of $128.31 and a 52-week high of $129.64. The company has a market capitalization of $247.84 billion, a PE ratio of 34.99, a PEG ratio of 2.49 and a beta of 1.14.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm had revenue of $37.76 billion for the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. equities research analysts expect that Chevron Co. will post 7.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Friday, May 18th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, May 17th. Chevron’s payout ratio is currently 121.08%.
In other news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael K. Wirth sold 130,000 shares of Chevron stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $128.00, for a total transaction of $16,640,000.00. Following the completion of the transaction, the chief executive officer now directly owns 130,000 shares in the company, valued at approximately $16,640,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 377,000 shares of company stock worth $48,519,200. Insiders own 0.38% of the company’s stock.
Several research firms have recently issued reports on CVX. Credit Suisse Group raised their target price on shares of Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Piper Jaffray reiterated a “buy” rating and set a $140.00 price objective on shares of Chevron in a report on Monday, April 23rd. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 price objective for the company in a report on Tuesday, April 3rd. Barclays lifted their price objective on shares of Chevron from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, April 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $130.00 price objective on shares of Chevron in a report on Friday, April 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $131.92.
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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