MJP Associates Inc. ADV increased its position in Chevron Co. (NYSE:CVX – Get Rating) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,034 shares of the oil and gas company’s stock after buying an additional 119 shares during the quarter. MJP Associates Inc. ADV’s holdings in Chevron were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Chevron in the fourth quarter valued at $3,111,594,000. Vanguard Group Inc. boosted its holdings in Chevron by 2.7% in the first quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock valued at $27,317,547,000 after acquiring an additional 4,367,157 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Chevron by 1,886.8% in the first quarter. 1832 Asset Management L.P. now owns 2,346,162 shares of the oil and gas company’s stock valued at $376,786,000 after acquiring an additional 2,228,072 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Chevron by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock valued at $1,589,915,000 after acquiring an additional 1,437,047 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Chevron by 13.6% in the first quarter. Swiss National Bank now owns 8,349,332 shares of the oil and gas company’s stock valued at $1,359,522,000 after acquiring an additional 998,700 shares in the last quarter. 69.30% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $202.00 price target on shares of Chevron in a report on Thursday, August 11th. Piper Sandler lifted their price target on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Barclays boosted their target price on shares of Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a report on Tuesday, May 31st. Citigroup dropped their target price on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Finally, Cowen boosted their target price on shares of Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.
Chevron Stock Down 2.6 %
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The firm had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same period last year, the business posted $1.71 EPS. Equities analysts predict that Chevron Co. will post 18.4 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were paid a $1.42 dividend. The ex-dividend date was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.63%. Chevron’s dividend payout ratio (DPR) is currently 37.89%.
Insider Transactions at Chevron
In other news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock worth $23,024,499 in the last ninety days. Insiders own 0.32% of the company’s stock.
Chevron Company Profile
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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