Fortune 45 LLC lifted its position in Chevron Co. (NYSE:CVX – Get Rating) by 32.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,618 shares of the oil and gas company’s stock after acquiring an additional 647 shares during the period. Fortune 45 LLC’s holdings in Chevron were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of CVX. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter worth approximately $3,111,594,000. Allspring Global Investments Holdings LLC acquired a new position in Chevron during the fourth quarter worth $119,040,000. Invesco Ltd. boosted its stake in Chevron by 6.8% during the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after buying an additional 917,773 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Chevron by 534.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company’s stock worth $111,113,000 after buying an additional 797,701 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Chevron by 28.9% during the fourth quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company’s stock worth $381,845,000 after buying an additional 730,170 shares during the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Chevron from $140.00 to $170.00 in a research note on Wednesday, March 2nd. The Goldman Sachs Group lowered their price objective on Chevron from $181.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com started coverage on Chevron in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James lifted their target price on Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, April 18th. Finally, Barclays lifted their target price on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.57.
Shares of NYSE CVX opened at $147.87 on Thursday. The stock’s 50-day moving average is $167.41 and its two-hundred day moving average is $149.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The company has a market cap of $290.54 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09.
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. During the same quarter last year, the company earned $0.90 EPS. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 17.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were issued a dividend of $1.42 per share. The ex-dividend date was Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.84%. Chevron’s dividend payout ratio (DPR) is 53.38%.
Chevron Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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