Wetherby Asset Management Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 26.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 52,282 shares of the oil and gas company’s stock after acquiring an additional 10,932 shares during the period. Chevron accounts for about 0.7% of Wetherby Asset Management Inc.’s holdings, making the stock its 20th largest position. Wetherby Asset Management Inc.’s holdings in Chevron were worth $6,506,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BKD Wealth Advisors LLC lifted its holdings in shares of Chevron by 2.5% in the 4th quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after acquiring an additional 763 shares during the last quarter. Gradient Investments LLC lifted its holdings in Chevron by 0.3% during the 4th quarter. Gradient Investments LLC now owns 93,429 shares of the oil and gas company’s stock valued at $10,164,000 after buying an additional 242 shares in the last quarter. Nachman Norwood & Parrott Inc bought a new stake in Chevron during the 4th quarter valued at about $4,003,000. OLD Second National Bank of Aurora lifted its holdings in Chevron by 2.7% during the 4th quarter. OLD Second National Bank of Aurora now owns 21,049 shares of the oil and gas company’s stock valued at $2,290,000 after buying an additional 547 shares in the last quarter. Finally, Lodestar Investment Counsel LLC IL lifted its holdings in Chevron by 17.8% during the 4th quarter. Lodestar Investment Counsel LLC IL now owns 53,734 shares of the oil and gas company’s stock valued at $5,846,000 after buying an additional 8,131 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on CVX shares. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Friday, April 12th. Morgan Stanley reduced their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Cowen restated a “buy” rating and issued a $142.00 price target on shares of Chevron in a report on Wednesday, April 17th. Finally, Citigroup began coverage on shares of Chevron in a report on Monday, May 13th. They issued a “buy” rating and a $135.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $135.41.
Shares of Chevron stock traded down $1.11 on Friday, reaching $122.12. The stock had a trading volume of 1,702,959 shares, compared to its average volume of 5,348,361. The firm’s 50 day moving average price is $123.82. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.60. The stock has a market cap of $234.72 billion, a PE ratio of 14.80, a P/E/G ratio of 2.89 and a beta of 1.00.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.61%. The firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 6.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Friday, August 16th. Chevron’s payout ratio is currently 57.70%.
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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