Ardevora Asset Management LLP grew its holdings in Chevron Co. (NYSE:CVX) by 9.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,012 shares of the oil and gas company’s stock after purchasing an additional 17,100 shares during the period. Ardevora Asset Management LLP’s holdings in Chevron were worth $25,636,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in Chevron by 3.4% during the second quarter. Fisher Asset Management LLC now owns 5,039,254 shares of the oil and gas company’s stock worth $627,085,000 after buying an additional 166,952 shares during the last quarter. Rhumbline Advisers increased its holdings in Chevron by 1.1% during the fourth quarter. Rhumbline Advisers now owns 3,439,855 shares of the oil and gas company’s stock worth $374,222,000 after buying an additional 36,737 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in Chevron by 12,204.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock worth $325,980,000 after buying an additional 3,233,312 shares during the last quarter. Investec Asset Management LTD increased its holdings in Chevron by 33.0% during the second quarter. Investec Asset Management LTD now owns 2,139,343 shares of the oil and gas company’s stock worth $266,220,000 after buying an additional 530,897 shares during the last quarter. Finally, TD Asset Management Inc. increased its holdings in Chevron by 2.7% during the second quarter. TD Asset Management Inc. now owns 1,993,109 shares of the oil and gas company’s stock worth $248,022,000 after buying an additional 51,804 shares during the last quarter. Institutional investors own 65.90% of the company’s stock.
A number of equities analysts recently weighed in on CVX shares. Citigroup started coverage on shares of Chevron in a report on Monday, May 13th. They set a “buy” rating and a $135.00 target price on the stock. Morgan Stanley lowered 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 downgraded 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $135.41.In other news, Director Enrique Hernandez, Jr. sold 2,100 shares of the business’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 completion of the sale, the director now owns 15,689 shares of the company’s stock, valued at $1,910,135.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The disclosure for this sale can be found here. In the last three months, insiders sold 53,850 shares of company stock valued at $6,704,375. 0.31% of the stock is currently owned by company insiders.
CVX stock opened at $115.81 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. The company has a fifty day moving average price of $123.15 and a two-hundred day moving average price of $121.48. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. The stock has a market cap of $222.02 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.81 and a beta of 1.00.
Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. Chevron’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.78 earnings per share. Research analysts anticipate that Chevron Co. will post 6.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.11%. Chevron’s payout ratio is presently 57.70%.
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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