Schnieders Capital Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 89,071 shares of the oil and gas company’s stock after acquiring an additional 1,062 shares during the period. Chevron makes up 4.8% of Schnieders Capital Management LLC’s investment portfolio, making the stock its largest position. Schnieders Capital Management LLC’s holdings in Chevron were worth $11,261,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of CVX. Live Your Vision LLC raised its holdings in shares of Chevron by 308.0% in the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 616 shares in the last quarter. Point72 Asia Hong Kong Ltd raised its holdings in shares of Chevron by 20,716.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares in the last quarter. Shine Investment Advisory Services Inc. raised its holdings in shares of Chevron by 45.4% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 462 shares in the last quarter. First National Bank of Hutchinson bought a new stake in shares of Chevron in the 2nd quarter worth approximately $200,000. Finally, Mosaic Financial Partners Inc. bought a new stake in shares of Chevron in the 2nd quarter worth approximately $200,000. 64.89% of the stock is owned by hedge funds and other institutional investors.
Shares of CVX stock opened at $113.60 on Monday. Chevron Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The firm has a market capitalization of $217.06 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19.
Chevron (NYSE:CVX) last announced its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The business had revenue of $43.99 billion during the quarter, compared to analysts’ expectations of $47.17 billion. During the same quarter last year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 8.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
In related news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total transaction of $569,857.50. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at approximately $569,857.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.
A number of analysts recently commented on the stock. Berenberg Bank assumed coverage on shares of Chevron in a report on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price on the stock. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $150.00 to $135.00 in a report on Thursday, September 6th. Goldman Sachs Group reiterated a “buy” rating and issued a $141.00 target price on shares of Chevron in a report on Tuesday, July 31st. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Finally, Credit Suisse Group upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price on the stock in a report on Monday, November 5th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Chevron has an average rating of “Buy” and a consensus target price of $138.13.
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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.
Further Reading: Return on Equity (ROE)
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