Reynders McVeigh Capital Management LLC Lowers Holdings in Chevron Co. (CVX)
Reynders McVeigh Capital Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,688 shares of the oil and gas company’s stock after selling 945 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Chevron were worth $2,313,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CVX. Harbour Capital Advisors LLC lifted its position in shares of Chevron by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after purchasing an additional 5,653,686 shares during the period. Vanguard Group Inc. lifted its position in Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after acquiring an additional 3,920,240 shares during the last quarter. Capital World Investors lifted its position in Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after acquiring an additional 3,182,250 shares during the last quarter. Janus Henderson Group PLC lifted its position in Chevron by 669.9% during the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after acquiring an additional 2,810,928 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Chevron by 305,886.4% during the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after acquiring an additional 2,612,270 shares during the last quarter. 63.72% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. Royal Bank of Canada raised shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 target price for the company in a research report on Friday. Barclays raised shares of Chevron from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $130.00 to $135.00 in a research report on Tuesday, February 6th. Wells Fargo & Co decreased their target price on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Credit Suisse Group decreased their target price on shares of Chevron from $130.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, February 5th. Finally, Goldman Sachs Group cut shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Chevron presently has a consensus rating of “Buy” and a consensus target price of $130.30.
Chevron Co. (NYSE:CVX) opened at $113.50 on Monday. 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 Co. has a 52 week low of $102.55 and a 52 week high of $133.88. The stock has a market cap of $215,578.94, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The company had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities research analysts expect that Chevron Co. will post 6.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.95%. Chevron’s dividend payout ratio is presently 89.07%.
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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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