Chevron Co. (CVX) is Cortland Advisers LLC’s 6th Largest Position
Cortland Advisers LLC trimmed its position in Chevron Co. (NYSE:CVX) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,099,797 shares of the oil and gas company’s stock after selling 87,953 shares during the quarter. Chevron makes up 6.3% of Cortland Advisers LLC’s portfolio, making the stock its 6th biggest position. Cortland Advisers LLC owned 0.06% of Chevron worth $137,684,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Koshinski Asset Management Inc. boosted its holdings in Chevron by 8.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 14,572 shares of the oil and gas company’s stock worth $1,824,000 after buying an additional 1,077 shares during the last quarter. Bogart Wealth LLC boosted its holdings in Chevron by 3.7% during the fourth quarter. Bogart Wealth LLC now owns 15,316 shares of the oil and gas company’s stock worth $1,917,000 after buying an additional 542 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Chevron by 2.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 8,453,505 shares of the oil and gas company’s stock valued at $1,058,082,000 after purchasing an additional 234,920 shares in the last quarter. Berkshire Asset Management LLC PA lifted its holdings in shares of Chevron by 42.7% during the 4th quarter. Berkshire Asset Management LLC PA now owns 25,234 shares of the oil and gas company’s stock valued at $3,159,000 after purchasing an additional 7,550 shares in the last quarter. Finally, Goodman Financial Corp lifted its holdings in shares of Chevron by 1.1% during the 4th quarter. Goodman Financial Corp now owns 44,527 shares of the oil and gas company’s stock valued at $5,574,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.
CVX has been the topic of several recent analyst reports. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Vetr upgraded Chevron from a “buy” rating to a “strong-buy” rating and set a $135.52 price objective on the stock in a report on Monday, February 5th. Goldman Sachs Group cut Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Credit Suisse Group cut their price objective on Chevron from $130.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, February 5th. Finally, Wells Fargo & Co cut their price objective on Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average target price of $133.52.
Chevron opened at $124.30 on Friday, according to Marketbeat.com. The company has a market capitalization of $231.89 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.28 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88.
Chevron (NYSE:CVX) last released its earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.45. The firm had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. equities analysts expect that Chevron Co. will post 7.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, May 17th. Chevron’s dividend payout ratio (DPR) is 121.08%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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