IFP Advisors Inc increased its position in Chevron Co. (NYSE:CVX) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,184 shares of the oil and gas company’s stock after purchasing an additional 3,165 shares during the period. IFP Advisors Inc’s holdings in Chevron were worth $10,011,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Live Your Vision LLC lifted its position in Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after buying an additional 616 shares during the last quarter. Litman Gregory Asset Management LLC lifted its position in Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after buying an additional 975 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its stake in Chevron by 20,716.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares during the period. Shine Investment Advisory Services Inc. increased its stake in Chevron by 45.4% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 462 shares during the period. Finally, BigSur Wealth Management LLC purchased a new stake in Chevron in the second quarter worth $200,000. Institutional investors and hedge funds own 64.89% of the company’s stock.
NYSE CVX traded up $1.47 during trading on Thursday, hitting $117.57. The company’s stock had a trading volume of 5,623,213 shares, compared to its average volume of 7,610,808. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22. The company has a market cap of $221.84 billion, a PE ratio of 31.78, a P/E/G ratio of 2.02 and a beta of 1.12. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. The business had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 8.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio is presently 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $569,857.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Berenberg Bank assumed coverage on Chevron in a research note on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price on the stock. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $150.00 to $135.00 in a research note on Thursday, September 6th. Goldman Sachs Group restated a “buy” rating and set a $141.00 price target on shares of Chevron in a research note on Tuesday, July 31st. HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Credit Suisse Group upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 price target on the stock in a research note on Monday, November 5th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $138.13.
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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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