EdgeRock Capital LLC decreased its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,545 shares of the oil and gas company’s stock after selling 90 shares during the period. EdgeRock Capital LLC’s holdings in Chevron were worth $243,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Morgan Stanley raised its holdings in Chevron by 12.7% during the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 76.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after purchasing an additional 10,257,980 shares during the period. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth about $3,058,235,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Chevron by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock worth $2,421,958,000 after purchasing an additional 948,045 shares during the period. 68.87% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
CVX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Citigroup decreased their target price on Chevron from $180.00 to $170.00 in a research report on Tuesday, July 11th. StockNews.com initiated coverage on Chevron in a report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley upped their price target on Chevron from $197.00 to $198.00 and gave the company an “equal weight” rating in a report on Friday, August 18th. Finally, UBS Group upped their price target on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.61.
Insiders Place Their Bets
In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the transaction, the chief financial officer now directly owns 6,021 shares in the company, valued at approximately $987,444. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Chevron Stock Up 0.4 %
NYSE CVX opened at $167.22 on Tuesday. The firm has a market cap of $312.24 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Chevron Co. has a one year low of $140.46 and a one year high of $189.68. The stock’s 50 day simple moving average is $160.80 and its 200 day simple moving average is $160.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.13.
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. During the same quarter in the prior year, the business earned $5.82 EPS. The business’s revenue for the quarter was down 28.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 13.23 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, August 17th. Chevron’s dividend payout ratio is 38.30%.
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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