LifePlan Financial Group Inc lessened its position in Chevron Co. (NYSE:CVX) by 43.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,030 shares of the oil and gas company’s stock after selling 800 shares during the quarter. LifePlan Financial Group Inc’s holdings in Chevron were worth $130,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Live Your Vision LLC increased its holdings in shares of Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 616 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Chevron in the first quarter valued at approximately $110,000. Earnest Partners LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $114,000. Virtue Capital Management LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $128,000. Finally, Litman Gregory Asset Management LLC increased its holdings in shares of Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 975 shares during the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.
In other news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.
Shares of NYSE CVX opened at $122.47 on Friday. Chevron Co. has a twelve month low of $108.02 and a twelve month high of $133.88. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $236.40 billion, a PE ratio of 33.10, a PEG ratio of 2.16 and a beta of 1.06.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The firm had revenue of $42.24 billion during the quarter, compared to analyst estimates of $46.62 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. research analysts anticipate that Chevron Co. will post 8.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 17th were paid a $1.12 dividend. The ex-dividend date was Thursday, August 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.66%. Chevron’s payout ratio is presently 121.08%.
Several equities research analysts have issued reports on CVX shares. HSBC raised Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Goldman Sachs Group reissued a “buy” rating and set a $141.00 target price on shares of Chevron in a research note on Tuesday, July 31st. Mizuho started coverage on Chevron in a research note on Friday, June 8th. They set a “buy” rating and a $145.00 target price for the company. Credit Suisse Group set a $132.00 target price on Chevron and gave the stock a “hold” rating in a research note on Sunday, July 1st. Finally, Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $138.42.
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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