Personal Resources Investment & Strategic Management Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,153 shares of the oil and gas company’s stock, valued at approximately $2,899,000. Chevron makes up about 1.6% of Personal Resources Investment & Strategic Management Inc.’s holdings, making the stock its 12th biggest holding.
Other large investors also recently bought and sold shares of the company. First Eagle Investment Management LLC grew its position in shares of Chevron by 305,886.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after purchasing an additional 2,612,270 shares in the last quarter. BlackRock Inc. grew its position in Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after acquiring an additional 2,356,734 shares in the last quarter. Stifel Financial Corp grew its position in Chevron by 7,575.9% in the third quarter. Stifel Financial Corp now owns 1,920,517 shares of the oil and gas company’s stock worth $225,853,000 after acquiring an additional 1,895,497 shares in the last quarter. Bessemer Group Inc. grew its position in Chevron by 136.9% in the fourth quarter. Bessemer Group Inc. now owns 1,707,368 shares of the oil and gas company’s stock worth $213,746,000 after acquiring an additional 986,516 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Chevron by 20.0% in the fourth quarter. Bank of Montreal Can now owns 5,728,190 shares of the oil and gas company’s stock worth $717,111,000 after acquiring an additional 955,014 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on CVX. Credit Suisse Group upped their target price on shares of Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target for the company in a research note on Wednesday. Mizuho initiated coverage on shares of Chevron in a research note on Friday, June 8th. They set a “buy” rating and a $145.00 price objective for the company. Barclays upped their price objective 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, ValuEngine raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Chevron presently has a consensus rating of “Buy” and an average price target of $135.52.
In other news, insider James William Johnson sold 9,500 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total transaction of $1,229,680.00. Following the sale, the insider now directly owns 9,500 shares in the company, valued at approximately $1,229,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 130,000 shares of the firm’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $128.00, for a total transaction of $16,640,000.00. Following the sale, the chief executive officer now owns 130,000 shares in the company, valued at $16,640,000. The disclosure for this sale can be found here. Insiders sold 386,500 shares of company stock worth $49,748,880 over the last quarter. Insiders own 0.46% of the company’s stock.
Chevron stock traded down $0.56 during midday trading on Thursday, reaching $126.51. 4,998,738 shares of the company traded hands, compared to its average volume of 6,973,756. The company has a market cap of $243.67 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The business had revenue of $37.76 billion for the quarter, compared to the consensus estimate of $40.34 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. sell-side analysts expect that Chevron Co. will post 7.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 18th were given a $1.12 dividend. The ex-dividend date was Thursday, May 17th. This represents a $4.48 annualized dividend and a yield of 3.54%. Chevron’s 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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