Private Asset Management Inc. increased its position in Chevron Co. (NYSE:CVX) by 0.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,509 shares of the oil and gas company’s stock after acquiring an additional 297 shares during the quarter. Chevron comprises about 2.8% of Private Asset Management Inc.’s holdings, making the stock its 8th biggest holding. Private Asset Management Inc.’s holdings in Chevron were worth $16,614,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. CKW Financial Group lifted its position in Chevron by 123.5% during the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Highwater Wealth Management LLC bought a new stake in Chevron during the fourth quarter valued at approximately $51,000. Ironwood Financial llc lifted its position in Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 261 shares during the last quarter. Thor Advisors LLC bought a new stake in Chevron during the first quarter valued at approximately $67,000. Finally, Tributary Capital Management LLC bought a new stake in Chevron during the fourth quarter valued at approximately $84,000. Institutional investors own 65.90% of the company’s stock.
In other news, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 33,750 shares in the company, valued at approximately $4,239,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the sale, 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. Over the last three months, insiders have sold 53,850 shares of company stock worth $6,704,375. Insiders own 0.31% of the company’s stock.Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 target price for the company. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley decreased their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average price target of $135.41.
Shares of NYSE CVX opened at $116.95 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.60. The firm’s fifty day moving average is $123.31 and its 200 day moving average is $121.51. The company has a market cap of $223.52 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.96 and a beta of 1.00.
Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. Equities research analysts anticipate that Chevron Co. will post 6.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s payout ratio is currently 57.70%.
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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