Meritage Portfolio Management decreased its position in Chevron Co. (NYSE:CVX) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,767 shares of the oil and gas company’s stock after selling 2,149 shares during the quarter. Meritage Portfolio Management’s holdings in Chevron were worth $6,798,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Live Your Vision LLC increased its holdings in shares of Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 616 shares in the last quarter. Earnest Partners LLC bought a new position in shares of Chevron during the fourth quarter valued at $114,000. Advisors Preferred LLC bought a new position in shares of Chevron during the first quarter valued at $110,000. Virtue Capital Management LLC bought a new position in shares of Chevron during the fourth quarter valued at $128,000. Finally, Litman Gregory Asset Management LLC increased its holdings in shares of Chevron by 566.9% during 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 acquiring an additional 975 shares in the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.
Several brokerages have recently weighed in on CVX. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target for the company in a report on Wednesday, June 13th. Barclays increased their price objective on Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $132.00 price objective on Chevron and gave the company a “hold” rating in a research report on Sunday, July 1st. Mizuho began coverage on Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 price objective on the stock. Finally, Royal Bank of Canada set a $150.00 price objective on Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $138.42.
Shares of NYSE:CVX opened at $122.47 on Friday. The stock has a market capitalization of $236.40 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. Chevron Co. has a 52-week low of $108.02 and a 52-week high of $133.88.
Chevron (NYSE:CVX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.31). The firm had revenue of $42.24 billion during the quarter, compared to analysts’ expectations of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. equities analysts anticipate that Chevron Co. will post 8.17 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were given a $1.12 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.66%. Chevron’s payout ratio is 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the transaction, 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 the SEC website. Company insiders own 0.38% of the company’s stock.
Chevron Company Profile
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.
Read More: What are earnings reports?
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.