Chevron Corporation (CVX) Position Boosted by Family Firm Inc.
Family Firm Inc. boosted its position in Chevron Corporation (NYSE:CVX) by 16.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,147 shares of the oil and gas company’s stock after buying an additional 986 shares during the period. Family Firm Inc.’s holdings in Chevron were worth $746,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CVX. Everett Harris & Co. CA lifted its holdings in Chevron by 0.4% in the first quarter. Everett Harris & Co. CA now owns 291,943 shares of the oil and gas company’s stock valued at $31,346,000 after buying an additional 1,142 shares during the period. Paragon Capital Management Ltd acquired a new position in Chevron in the first quarter valued at $1,459,000. Nikko Asset Management Americas Inc. lifted its holdings in Chevron by 7.9% in the first quarter. Nikko Asset Management Americas Inc. now owns 239,730 shares of the oil and gas company’s stock valued at $25,740,000 after buying an additional 17,600 shares during the period. BTC Capital Management Inc. lifted its holdings in Chevron by 0.6% in the first quarter. BTC Capital Management Inc. now owns 89,852 shares of the oil and gas company’s stock valued at $9,647,000 after buying an additional 574 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in Chevron by 15.6% in the first quarter. Hennessy Advisors Inc. now owns 106,975 shares of the oil and gas company’s stock valued at $11,486,000 after buying an additional 14,425 shares during the period. Institutional investors and hedge funds own 63.93% of the company’s stock.
In related news, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the sale, the chief financial officer now owns 39,506 shares in the company, valued at approximately $4,554,646.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock worth $36,540,822 in the last 90 days. 0.38% of the stock is currently owned by company insiders.
Shares of Chevron Corporation (NYSE:CVX) opened at $121.15 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Corporation has a fifty-two week low of $102.55 and a fifty-two week high of $122.30. The firm has a market cap of $226,994.17, a PE ratio of 33.48, a P/E/G ratio of 3.89 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. analysts expect that Chevron Corporation will post 4.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.57%. Chevron’s dividend payout ratio is presently 125.95%.
Several equities analysts recently issued reports on the stock. UBS set a $120.00 target price on shares of Chevron and gave the company a “neutral” rating in a report on Monday. Bank of America set a $125.00 price objective on shares of Chevron and gave the company a “buy” rating in a report on Saturday. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Citigroup upped their price objective on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Jefferies Group reiterated a “buy” rating and set a $137.00 price objective (up previously from $113.54) on shares of Chevron in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $121.22.
Chevron Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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