Jacobs Levy Equity Management Inc. lowered its position in shares of Chevron Co. (NYSE:CVX) by 49.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,882 shares of the oil and gas company’s stock after selling 22,361 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Chevron were worth $2,758,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Roffman Miller Associates Inc. PA acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Price Wealth LLC boosted its position in shares of Chevron by 105.8% in the 4th quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. Birch Capital Management LLC acquired a new position in shares of Chevron in the 4th quarter valued at $45,000. Finally, Quantum Capital Management acquired a new position in shares of Chevron in the 3rd quarter valued at $51,000. 66.85% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CVX opened at $66.55 on Wednesday. Chevron Co. has a one year low of $51.60 and a one year high of $127.34. The firm has a market capitalization of $101.90 billion, a PE ratio of 44.07, a PEG ratio of 6.64 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $94.39 and a two-hundred day moving average price of $111.97.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.02. Chevron had a return on equity of 8.29% and a net margin of 2.00%. The company had revenue of $36.35 billion during the quarter, compared to the consensus estimate of $38.98 billion. During the same period last year, the business earned $1.95 EPS. The business’s quarterly revenue was down 14.2% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 1.63 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.19. This represents a $5.16 dividend on an annualized basis and a dividend yield of 7.75%. Chevron’s dividend payout ratio (DPR) is 82.30%.
In other news, Director John Frank purchased 1,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $96.59 per share, with a total value of $96,590.00. Following the purchase, the director now directly owns 5,114 shares of the company’s stock, valued at $493,961.26. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 67,500 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $121.07, for a total value of $8,172,225.00. Following the sale, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
A number of equities analysts recently weighed in on CVX shares. Piper Jaffray Companies started coverage on Chevron in a research report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 price target for the company. Berenberg Bank reiterated a “hold” rating and issued a $128.00 price target on shares of Chevron in a research report on Thursday, December 12th. Royal Bank of Canada reiterated a “hold” rating on shares of Chevron in a research report on Wednesday, March 18th. Morgan Stanley decreased their price target on Chevron from $137.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Finally, Wells Fargo & Co decreased their price objective on Chevron from $129.00 to $103.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $122.00.
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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