State Street Corp grew its stake in Chevron Co. (NYSE:CVX) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,141,035 shares of the oil and gas company’s stock after buying an additional 1,659,702 shares during the period. Chevron accounts for 0.9% of State Street Corp’s investment portfolio, making the stock its 14th largest holding. State Street Corp owned about 6.04% of Chevron worth $13,755,136,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Horan Capital Advisors LLC. boosted its stake in Chevron by 2.6% during the 3rd quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock worth $393,000 after purchasing an additional 85 shares during the period. Halsey Associates Inc. CT boosted its stake in Chevron by 1.1% during the 3rd quarter. Halsey Associates Inc. CT now owns 7,813 shares of the oil and gas company’s stock worth $927,000 after purchasing an additional 85 shares during the period. Empirical Finance LLC boosted its stake in Chevron by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 4,205 shares of the oil and gas company’s stock worth $499,000 after purchasing an additional 87 shares during the period. Archford Capital Strategies LLC boosted its stake in Chevron by 0.5% during the 3rd quarter. Archford Capital Strategies LLC now owns 16,784 shares of the oil and gas company’s stock worth $1,991,000 after purchasing an additional 88 shares during the period. Finally, Shulman DeMeo Asset Management LLC boosted its stake in Chevron by 0.8% during the 3rd quarter. Shulman DeMeo Asset Management LLC now owns 11,798 shares of the oil and gas company’s stock worth $1,399,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 65.51% of the company’s stock.
Chevron stock traded down $1.81 during trading hours on Friday, reaching $109.85. 3,343,619 shares of the stock were exchanged, compared to its average volume of 7,163,382. The stock has a market cap of $207.60 billion, a P/E ratio of 72.75, a P/E/G ratio of 2.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 1.12. Chevron Co. has a 52-week low of $105.40 and a 52-week high of $127.34. The firm’s 50 day moving average is $114.67 and its 200 day moving average is $117.68.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.02. The company had revenue of $36.35 billion during the quarter, compared to the consensus estimate of $38.98 billion. Chevron had a net margin of 2.00% and a return on equity of 8.14%. Chevron’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 EPS. Equities research analysts expect that Chevron Co. will post 7.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.16 dividend on an annualized basis and a yield of 4.70%. This is an increase from Chevron’s previous quarterly dividend of $1.19. Chevron’s dividend payout ratio is presently 75.92%.
A number of analysts recently weighed in on the stock. Berenberg Bank reiterated a “hold” rating and set a $128.00 price target on shares of Chevron in a research note on Thursday, December 12th. Cowen decreased their price target on shares of Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Bank of America cut shares of Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. Piper Jaffray Companies assumed coverage on shares of Chevron in a research note on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target for the company. Finally, Citigroup cut shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $136.50.
In other Chevron news, CEO Michael K. Wirth sold 67,500 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the completion of the transaction, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,086,112.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rhonda J. Morris sold 7,800 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total transaction of $933,504.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.
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: Asset Allocation, Balancing Your Investments
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