Baird Financial Group Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 4.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,217,066 shares of the oil and gas company’s stock after purchasing an additional 57,014 shares during the period. Chevron makes up about 1.1% of Baird Financial Group Inc.’s holdings, making the stock its 11th largest holding. Baird Financial Group Inc.’s holdings in Chevron were worth $152,365,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Fusion Family Wealth LLC boosted its holdings in shares of Chevron by 192.6% in the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 838 shares during the last quarter. Lenox Wealth Advisors Inc. lifted its stake in shares of Chevron by 15,555.6% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 1,409 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 1,400 shares during the period. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Chevron in the 3rd quarter valued at $201,000. Lesa Sroufe & Co acquired a new position in shares of Chevron in the 3rd quarter valued at $201,000. Finally, Chase Investment Counsel Corp acquired a new position in shares of Chevron in the 3rd quarter valued at $202,000. 64.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph C. Geagea sold 12,000 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $128.04, for a total transaction of $1,536,480.00. The disclosure for this sale can be found here. Insiders have sold 377,000 shares of company stock valued at $48,519,200 over the last 90 days. 0.38% of the stock is currently owned by company insiders.
Several research firms recently issued reports on CVX. Credit Suisse Group boosted their target price on shares of Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Piper Jaffray reiterated a “buy” rating and issued a $140.00 target price on shares of Chevron in a research note on Monday, April 23rd. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price for the company in a research note on Tuesday, April 3rd. Barclays boosted their target price on shares of Chevron from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, April 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $130.00 target price on shares of Chevron in a research note on Friday, April 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $131.92.
Chevron opened at $129.46 on Friday, MarketBeat.com reports. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. The firm has a market cap of $247.84 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.49 and a beta of 1.14. Chevron Co. has a fifty-two week low of $128.31 and a fifty-two week high of $129.64.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion during the quarter, compared to analysts’ expectations of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. equities research analysts predict that Chevron Co. will post 7.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Thursday, May 17th. Chevron’s dividend payout ratio is presently 121.08%.
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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