Fmr LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 14.0% during the first quarter, Holdings Channel reports. The institutional investor owned 26,121,316 shares of the oil and gas company’s stock after selling 4,239,475 shares during the quarter. Fmr LLC’s holdings in Chevron were worth $3,217,624,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CVX. CKW Financial Group boosted its position in shares of Chevron by 123.5% during the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $51,000. Ironwood Financial llc boosted its position in shares of Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 261 shares in the last quarter. Thor Advisors LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $67,000. Finally, Tributary Capital Management LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 65.39% of the company’s stock.
In other news, Director Enrique Hernandez, Jr. sold 2,100 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total value of $255,675.00. Following the completion of the transaction, the director now owns 15,689 shares in the company, valued at $1,910,135.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total value of $512,946.00. Following the completion of the transaction, the director now owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. Insiders sold 11,050 shares of company stock valued at $1,365,221 in the last 90 days. Company insiders own 0.31% of the company’s stock.
Chevron stock traded up $0.12 during mid-day trading on Monday, hitting $120.93. The company had a trading volume of 34,688 shares, compared to its average volume of 5,561,950. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $128.55. The company has a market capitalization of $230.11 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 2.44 and a beta of 0.97.
Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business had revenue of $35.20 billion for the quarter, compared to the consensus estimate of $38.42 billion. During the same period in the previous year, the company posted $1.90 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 7.9 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 57.70%.
Several equities research analysts recently weighed in on CVX shares. Citigroup started coverage on Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 price target on the stock. Royal Bank of Canada upgraded Chevron to a “sector perform” rating and set a $145.00 price target on the stock in a research report on Wednesday, March 6th. Mizuho restated a “buy” rating and set a $140.00 price target on shares of Chevron in a research report on Wednesday, March 6th. Tudor Pickering started coverage on Chevron in a research report on Friday, March 1st. They set a “buy” rating and a $133.00 price target on the stock. Finally, Morgan Stanley assumed coverage on Chevron in a research report on Friday, April 12th. They set an “overweight” rating and a $150.00 price target on the stock. Seven 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 stock. The stock currently has an average rating of “Buy” and an average price target of $135.42.
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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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