GeoWealth Management LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 691.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,091 shares of the oil and gas company’s stock after acquiring an additional 3,574 shares during the quarter. GeoWealth Management LLC’s holdings in Chevron were worth $429,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CVX. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth about $1,787,982,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Chevron by 222.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,625,448 shares of the oil and gas company’s stock valued at $643,967,000 after purchasing an additional 5,259,579 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Chevron by 4.1% in the 1st quarter. BlackRock Inc. now owns 132,016,229 shares of the oil and gas company’s stock valued at $13,833,978,000 after purchasing an additional 5,193,990 shares during the last quarter. Cullen Capital Management LLC lifted its holdings in shares of Chevron by 316.9% in the 1st quarter. Cullen Capital Management LLC now owns 1,934,292 shares of the oil and gas company’s stock valued at $202,695,000 after purchasing an additional 1,470,277 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Chevron by 18.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 7,727,794 shares of the oil and gas company’s stock valued at $652,612,000 after purchasing an additional 1,188,386 shares during the last quarter. 66.03% of the stock is owned by institutional investors and hedge funds.
In other Chevron news, Director Enrique Hernandez, Jr. sold 5,101 shares of the stock in a transaction on Monday, May 10th. The stock was sold at an average price of $110.79, for a total transaction of $565,139.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
Several research firms have recently weighed in on CVX. Argus boosted their target price on Chevron from $108.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, May 12th. Citigroup assumed coverage on Chevron in a research note on Wednesday, March 10th. They set a “neutral” rating and a $105.00 price objective for the company. Mizuho upped their price objective on Chevron from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, May 17th. Cowen upped their price objective on Chevron from $111.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, March 10th. Finally, Evercore ISI upped their price objective on Chevron from $98.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, March 17th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $114.77.
CVX opened at $107.07 on Friday. The firm has a market cap of $206.44 billion, a PE ratio of -25.68, a P/E/G ratio of 3.91 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $105.69. Chevron Co. has a 1-year low of $65.16 and a 1-year high of $113.11.
Chevron (NYSE:CVX) last announced its earnings results on Thursday, April 29th. The oil and gas company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $32.03 billion for the quarter, compared to analyst estimates of $31.82 billion. Chevron had a negative net margin of 8.15% and a negative return on equity of 0.82%. Chevron’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. As a group, equities analysts expect that Chevron Co. will post 5.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Tuesday, May 18th. This is a boost from Chevron’s previous quarterly dividend of $1.29. Chevron’s dividend payout ratio is -2,680.00%.
About Chevron
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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