Woodstock Corp lifted its stake in Chevron Co. (NYSE:CVX – Get Rating) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,829 shares of the oil and gas company’s stock after purchasing an additional 2,925 shares during the quarter. Woodstock Corp’s holdings in Chevron were worth $6,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Good Life Advisors LLC lifted its position in shares of Chevron by 2.6% in the third quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after purchasing an additional 719 shares in the last quarter. Sage Mountain Advisors LLC raised its position in Chevron by 77.1% during the second quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock valued at $875,000 after acquiring an additional 2,632 shares in the last quarter. CapWealth Advisors LLC raised its position in Chevron by 0.6% during the third quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after acquiring an additional 1,097 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in Chevron by 0.8% during the third quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after acquiring an additional 155 shares in the last quarter. Finally, Cypress Capital Management LLC raised its position in Chevron by 0.6% during the third quarter. Cypress Capital Management LLC now owns 46,934 shares of the oil and gas company’s stock valued at $6,743,000 after acquiring an additional 293 shares in the last quarter. 69.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on CVX. Morgan Stanley cut their price objective on shares of Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. Barclays lifted their price target on shares of Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Mizuho reissued a “neutral” rating and issued a $206.00 price target on shares of Chevron in a research report on Friday. BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research report on Wednesday, December 14th. Finally, Raymond James dropped their price target on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a research report on Monday, January 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $189.50.
Insider Activity at Chevron
Chevron Stock Down 1.3 %
Shares of NYSE CVX opened at $152.34 on Friday. The stock has a market cap of $290.46 billion, a PE ratio of 8.33, a PEG ratio of 0.76 and a beta of 1.16. The business has a fifty day moving average of $169.06 and a two-hundred day moving average of $169.38. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the prior year, the firm earned $2.56 earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 14.87 earnings per share for the current fiscal year.
Chevron Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. Chevron’s payout ratio is currently 33.04%.
Chevron announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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