Saratoga Research & Investment Management Invests $639,000 in Chevron Corporation (CVX) Stock
Saratoga Research & Investment Management acquired a new stake in Chevron Corporation (NYSE:CVX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,435 shares of the oil and gas company’s stock, valued at approximately $639,000.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Chevron by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares during the period. BlackRock Inc. raised its holdings in shares of Chevron by 1.6% during the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after acquiring an additional 1,975,865 shares during the period. Capital World Investors raised its holdings in shares of Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Northern Trust Corp raised its holdings in shares of Chevron by 0.6% during the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after acquiring an additional 157,021 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Chevron by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after acquiring an additional 49,083 shares during the period. Institutional investors own 63.80% of the company’s stock.
CVX has been the topic of several analyst reports. UBS Group set a $105.00 price target on Chevron and gave the stock a “neutral” rating in a report on Wednesday, September 6th. Scotiabank reissued a “buy” rating on shares of Chevron in a research report on Friday, September 15th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Chevron in a research report on Saturday, September 16th. Cowen reissued a “buy” rating and set a $122.00 price objective on shares of Chevron in a research report on Tuesday, September 19th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $123.00 price objective (up from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. Chevron currently has an average rating of “Hold” and a consensus target price of $125.15.
Chevron Corporation (NYSE CVX) opened at $125.55 on Thursday. Chevron Corporation has a 52-week low of $102.55 and a 52-week high of $126.20. The company has a market capitalization of $239,280.00, a PE ratio of 36.60, a PEG ratio of 4.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. research analysts predict that Chevron Corporation will post 4.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s dividend payout ratio is presently 125.95%.
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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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