Ancora Advisors LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 37.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,609 shares of the oil and gas company’s stock after purchasing an additional 18,324 shares during the period. Ancora Advisors LLC’s holdings in Chevron were worth $8,267,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Private Capital Group LLC increased its position in Chevron by 4.6% in the 2nd quarter. Private Capital Group LLC now owns 9,281 shares of the oil and gas company’s stock valued at $1,173,000 after acquiring an additional 412 shares during the period. EFG Asset Management Americas Corp. increased its position in Chevron by 1.2% in the 3rd quarter. EFG Asset Management Americas Corp. now owns 35,320 shares of the oil and gas company’s stock valued at $4,319,000 after acquiring an additional 418 shares during the period. Burns J W & Co. Inc. NY increased its position in Chevron by 0.6% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 66,535 shares of the oil and gas company’s stock valued at $8,136,000 after acquiring an additional 421 shares during the period. Frontier Investment Mgmt Co. increased its position in Chevron by 1.5% in the 3rd quarter. Frontier Investment Mgmt Co. now owns 28,092 shares of the oil and gas company’s stock valued at $3,435,000 after acquiring an additional 421 shares during the period. Finally, Abbot Financial Management Inc. increased its position in Chevron by 4.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 9,059 shares of the oil and gas company’s stock valued at $1,108,000 after acquiring an additional 421 shares during the period. Institutional investors and hedge funds own 64.62% of the company’s stock.
CVX has been the topic of several recent research reports. Raymond James set a $135.00 price target on Chevron and gave the company a “buy” rating in a research report on Thursday, December 20th. Societe Generale dropped their price target on Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. HSBC cut Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $136.00 to $122.00 in a research report on Monday, January 14th. Royal Bank of Canada restated a “hold” rating and issued a $130.00 price target on shares of Chevron in a research report on Monday, January 7th. Finally, Zacks Investment Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $133.57.
Shares of CVX opened at $119.58 on Friday. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $131.08. The company has a market capitalization of $228.13 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 4.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.08. Chevron had a return on equity of 9.82% and a net margin of 8.91%. The company had revenue of $42.35 billion for the quarter, compared to analyst estimates of $41.46 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts expect that Chevron Co. will post 6.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Thursday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.12. Chevron’s payout ratio is currently 57.70%.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $112.20, for a total transaction of $532,950.00. Following the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $532,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeanette L. Ourada sold 7,200 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now directly owns 7,200 shares in the company, valued at approximately $838,800. The disclosure for this sale can be found here. Insiders sold a total of 16,700 shares of company stock worth $1,946,120 in the last ninety days. 0.46% of the stock is owned by corporate insiders.
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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.
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