Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Chevron Co. (NYSE:CVX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,514 shares of the oil and gas company’s stock, valued at approximately $571,000.
A number of other institutional investors have also bought and sold shares of CVX. Live Your Vision LLC boosted its stake in shares of Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares during the period. Litman Gregory Asset Management LLC boosted its stake in shares of Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 975 shares during the period. Point72 Asia Hong Kong Ltd boosted its stake in shares of Chevron by 20,716.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 1,243 shares during the period. Shine Investment Advisory Services Inc. boosted its stake in shares of Chevron by 45.4% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 462 shares during the period. Finally, First National Bank of Hutchinson acquired a new stake in shares of Chevron during the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 64.66% of the company’s stock.
CVX has been the subject of a number of research reports. Goldman Sachs Group raised shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 target price on shares of Chevron and gave the company a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research note on Monday, October 1st. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a research note on Tuesday, October 23rd. Finally, Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $138.13.
CVX stock opened at $119.51 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron Co. has a 1 year low of $107.54 and a 1 year high of $133.88. The firm has a market capitalization of $227.83 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.24%. The business had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Chevron’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 8.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Thursday, November 15th. Chevron’s payout ratio is presently 121.08%.
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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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