Stelac Advisory Services LLC raised its position in Chevron Co. (NYSE:CVX) by 63.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,209 shares of the oil and gas company’s stock after buying an additional 1,627 shares during the period. Stelac Advisory Services LLC’s holdings in Chevron were worth $376,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CVX. BlackRock Inc. boosted its position in Chevron by 4.9% in the first quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock valued at $9,665,343,000 after buying an additional 6,208,177 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Chevron by 57.5% in the first quarter. Franklin Resources Inc. now owns 13,548,338 shares of the oil and gas company’s stock worth $981,712,000 after acquiring an additional 4,944,811 shares during the last quarter. Capital International Investors raised its stake in shares of Chevron by 12.9% in the first quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock worth $2,666,493,000 after acquiring an additional 4,218,942 shares during the last quarter. State Street Corp raised its stake in shares of Chevron by 2.6% in the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after acquiring an additional 2,914,316 shares during the last quarter. Finally, Eaton Vance Management raised its stake in shares of Chevron by 114.2% in the first quarter. Eaton Vance Management now owns 3,558,007 shares of the oil and gas company’s stock worth $259,115,000 after acquiring an additional 1,896,930 shares during the last quarter. Hedge funds and other institutional investors own 64.60% of the company’s stock.
A number of equities analysts have weighed in on CVX shares. Morgan Stanley boosted their target price on shares of Chevron from $103.00 to $107.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Craig Hallum boosted their price target on shares of Chevron from $81.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 9th. Credit Suisse Group boosted their price target on shares of Chevron from $81.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, SunTrust Banks began coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued a “buy” rating and a $120.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $111.25.
Shares of CVX stock opened at $83.94 on Friday. The stock has a market cap of $156.71 billion, a P/E ratio of 40.95, a P/E/G ratio of 21.46 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The company has a fifty day moving average price of $88.84 and a two-hundred day moving average price of $92.49. Chevron Co. has a one year low of $51.60 and a one year high of $125.27.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. Chevron’s revenue for the quarter was down 64.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 0.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Tuesday, August 18th. Chevron’s payout ratio is presently 82.30%.
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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