Robertson Stephens Wealth Management LLC bought a new position in Chevron Co. (NYSE:CVX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the oil and gas company’s stock, valued at approximately $224,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in Chevron by 3.4% during the 2nd quarter. Fisher Asset Management LLC now owns 5,039,254 shares of the oil and gas company’s stock valued at $627,085,000 after purchasing an additional 166,952 shares during the period. Rhumbline Advisers increased its position in Chevron by 1.1% during the 4th quarter. Rhumbline Advisers now owns 3,439,855 shares of the oil and gas company’s stock valued at $374,222,000 after purchasing an additional 36,737 shares during the period. Thoroughbred Financial Services LLC increased its position in Chevron by 12,204.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock valued at $325,980,000 after purchasing an additional 3,233,312 shares during the period. Investec Asset Management LTD increased its position in Chevron by 33.0% during the 2nd quarter. Investec Asset Management LTD now owns 2,139,343 shares of the oil and gas company’s stock valued at $266,220,000 after purchasing an additional 530,897 shares during the period. Finally, Nordea Investment Management AB increased its position in Chevron by 298.6% during the 4th quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock valued at $184,416,000 after purchasing an additional 1,269,889 shares during the period. 65.90% of the stock is currently owned by institutional investors.
Shares of CVX stock opened at $115.81 on Friday. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $127.60. The stock has a market cap of $223.52 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $123.15 and its 200-day moving average price is $121.48.
Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm had revenue of $38.85 billion for the quarter, compared to analysts’ expectations of $40.14 billion. During the same quarter in the previous year, the business posted $1.78 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 6.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s payout ratio is 57.70%.
CVX has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $135.41.
In related news, Director Enrique Hernandez, Jr. sold 2,100 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total value of $255,675.00. Following the transaction, the director now owns 15,689 shares in the company, valued at approximately $1,910,135.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph C. Geagea sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. Following the completion of the transaction, the insider now owns 9,243 shares in the company, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,850 shares of company stock worth $6,704,375. 0.31% of the stock is currently owned by company insiders.
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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