Timber Creek Capital Management LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 2.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 26,550 shares of the oil and gas company’s stock after selling 660 shares during the period. Chevron comprises about 1.9% of Timber Creek Capital Management LLC’s portfolio, making the stock its 21st largest holding. Timber Creek Capital Management LLC’s holdings in Chevron were worth $3,027,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alleghany Corp DE bought a new stake in shares of Chevron during the 4th quarter valued at about $430,653,000. BlackRock Inc. grew its stake in shares of Chevron by 1.9% during the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock valued at $16,090,676,000 after purchasing an additional 2,356,734 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of Chevron by 2,865.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,599,520 shares of the oil and gas company’s stock valued at $200,242,000 after purchasing an additional 1,545,573 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $172,635,000. Finally, Bessemer Group Inc. grew its stake in shares of Chevron by 136.9% during the 4th quarter. Bessemer Group Inc. now owns 1,707,368 shares of the oil and gas company’s stock valued at $213,746,000 after purchasing an additional 986,516 shares during the period. Institutional investors own 64.27% of the company’s stock.
Chevron opened at $125.66 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88. The stock has a market cap of $240.69 billion, a PE ratio of 33.96, a P/E/G ratio of 2.11 and a beta of 1.14.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same period in the previous year, the firm earned $1.23 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. equities analysts forecast that Chevron Co. will post 8.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 18th were issued a $1.12 dividend. The ex-dividend date was Thursday, May 17th. This represents a $4.48 dividend on an annualized basis and a yield of 3.57%. Chevron’s dividend payout ratio is presently 121.08%.
In related news, EVP James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $126.96, for a total value of $603,060.00. Following the transaction, the executive vice president now directly owns 4,750 shares of the company’s stock, valued at approximately $603,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $130.41, for a total value of $3,260,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 391,250 shares of company stock worth $50,351,940. 0.38% of the stock is owned by insiders.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded 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, June 13th. Mizuho assumed coverage on Chevron in a research note on Friday, June 8th. They set a “buy” rating and a $145.00 price target for the company. Credit Suisse Group boosted their price target on Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Piper Jaffray Companies restated a “buy” rating and set a $140.00 price target on shares of Chevron in a research note on Monday, April 23rd. Finally, Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $117.38 price target for the company in a research note on Tuesday, April 3rd. Six equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Chevron presently has an average rating of “Buy” and an average price target of $135.52.
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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