Mission Wealth Management LP raised its holdings in Chevron Co. (NYSE:CVX) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,933 shares of the oil and gas company’s stock after purchasing an additional 1,031 shares during the quarter. Mission Wealth Management LP’s holdings in Chevron were worth $1,995,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock valued at $16,090,676,000 after buying an additional 2,356,734 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Chevron by 7.5% in the third quarter. Ameriprise Financial Inc. now owns 13,499,859 shares of the oil and gas company’s stock valued at $1,586,183,000 after buying an additional 941,196 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Chevron by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 11,084,214 shares of the oil and gas company’s stock valued at $1,302,404,000 after buying an additional 424,607 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Chevron by 2.0% in the third quarter. Legal & General Group Plc now owns 10,378,493 shares of the oil and gas company’s stock valued at $1,219,409,000 after buying an additional 199,005 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Chevron by 26.4% in the third quarter. Boston Partners now owns 9,031,433 shares of the oil and gas company’s stock valued at $1,061,193,000 after buying an additional 1,884,320 shares in the last quarter. Institutional investors own 64.99% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. HSBC cut Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Morgan Stanley lifted their price objective on Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $130.00 price objective (up from $123.00) on shares of Chevron in a research note on Tuesday, January 23rd. Piper Jaffray reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Chevron in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada set a $115.00 price objective on Chevron and gave the company a “sell” rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus price target of $131.92.
Chevron opened at $129.46 on Friday, according to Marketbeat Ratings. The firm has a market cap of $247.49 billion, a P/E ratio of 34.99, a P/E/G ratio of 2.49 and a beta of 1.14. 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 Co. has a 12 month low of $128.31 and a 12 month high of $129.64.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. Chevron’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. research analysts forecast that Chevron Co. will post 7.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, May 17th. Chevron’s dividend payout ratio (DPR) is 121.08%.
In other Chevron news, EVP Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $130.41, for a total transaction of $3,260,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph C. Geagea sold 12,000 shares of Chevron stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $129.00, for a total value of $1,548,000.00. Following the sale, the executive vice president now directly owns 13,233 shares of the company’s stock, valued at $1,707,057. The disclosure for this sale can be found here. Insiders have sold a total of 377,000 shares of company stock valued at $48,519,200 over the last ninety days. 0.38% of the stock is owned by company insiders.
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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