Fisher Asset Management LLC lifted its stake in Chevron Co. (NYSE:CVX) by 3.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,039,254 shares of the oil and gas company’s stock after purchasing an additional 166,952 shares during the quarter. Fisher Asset Management LLC owned 0.26% of Chevron worth $627,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Guidant Wealth Advisors increased its position in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the period. Evolution Wealth Advisors LLC acquired a new stake in Chevron during the second quarter worth approximately $34,000. Cordasco Financial Network grew its stake in Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares during the period. Ashburton Jersey Ltd acquired a new stake in Chevron in the second quarter valued at approximately $54,000. Finally, Thor Advisors LLC acquired a new stake in Chevron in the first quarter valued at approximately $67,000. Hedge funds and other institutional investors own 66.45% of the company’s stock.
CVX has been the topic of a number of recent research reports. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Morgan Stanley dropped their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Barclays started coverage on Chevron in a report on Monday. They set an “overweight” rating and a $145.00 price target on the stock. BMO Capital Markets started coverage on Chevron in a report on Tuesday. They set an “outperform” rating and a $165.00 price target on the stock. Finally, Citigroup started coverage on Chevron in a report on Monday, May 13th. They set a “buy” rating and a $135.00 price target on the stock. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and an average price target of $136.78.NYSE:CVX traded up $1.58 during trading hours on Wednesday, reaching $117.71. The company’s stock had a trading volume of 1,178,573 shares, compared to its average volume of 6,095,443. The stock has a 50 day moving average price of $122.50 and a two-hundred day moving average price of $121.41. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $127.60. The company has a market capitalization of $219.86 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.79 and a beta of 1.00.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.53. The business had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 earnings per share. As a group, analysts predict that Chevron Co. will post 6.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s payout ratio is 57.70%.
In other Chevron news, Director Debra L. Reed acquired 4,250 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $118.14 per share, for a total transaction of $502,095.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 of the company’s stock, valued at $4,239,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,750 shares of company stock worth $6,448,700. 0.31% of the stock is owned by corporate 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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