Stone House Investment Management LLC reduced its stake in Chevron Co. (NYSE:CVX – Free Report) by 23.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 645 shares of the oil and gas company’s stock after selling 198 shares during the quarter. Stone House Investment Management LLC’s holdings in Chevron were worth $101,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Chevron by 100,509.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 426,861,553 shares of the oil and gas company’s stock valued at $67,166,665,000 after purchasing an additional 426,437,277 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank acquired a new position in Chevron in the 4th quarter worth approximately $3,058,235,000. Commonwealth Equity Services LLC increased its holdings in Chevron by 908.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,450,777 shares of the oil and gas company’s stock worth $186,830,000 after buying an additional 10,315,292 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Chevron by 76.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after buying an additional 10,257,980 shares during the period. 68.87% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $200.00 in a report on Monday, October 30th. The Goldman Sachs Group raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $166.00 to $187.00 in a research note on Monday, July 31st. HSBC raised their price objective on shares of Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. BNP Paribas raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Thursday, October 12th. Finally, Raymond James dropped their price objective on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.89.
Chevron Trading Up 0.3 %
CVX traded up $0.46 on Monday, hitting $144.92. The company had a trading volume of 3,300,476 shares, compared to its average volume of 8,359,087. The firm has a market cap of $273.57 billion, a P/E ratio of 10.82, a PEG ratio of 0.73 and a beta of 1.16. Chevron Co. has a 1 year low of $140.74 and a 1 year high of $187.81. The company’s fifty day moving average price is $158.68 and its 200 day moving average price is $158.22. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.65). The firm had revenue of $54.08 billion during the quarter, compared to analyst estimates of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business’s revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.56 earnings per share. As a group, equities analysts expect that Chevron Co. will post 13.59 earnings per share for the current year.
Chevron Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio is presently 44.84%.
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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