Robertson Stephens Wealth Management LLC bought a new stake in Chevron Co. (NYSE:CVX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,800 shares of the oil and gas company’s stock, valued at approximately $224,000.
Several other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake in shares of Chevron by 3.4% in 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 purchasing an additional 166,952 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Chevron by 1.1% in the fourth quarter. Rhumbline Advisers now owns 3,439,855 shares of the oil and gas company’s stock worth $374,222,000 after purchasing an additional 36,737 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in shares of Chevron by 12,204.4% in 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 purchasing an additional 3,233,312 shares in the last quarter. Investec Asset Management LTD increased its stake in shares of Chevron by 33.0% in 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 purchasing an additional 530,897 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Chevron by 298.6% in the fourth quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock worth $184,416,000 after purchasing an additional 1,269,889 shares in the last quarter. Institutional investors own 65.90% of the company’s stock.
CVX stock opened at $115.81 on Friday. The firm has a 50 day moving average of $123.15 and a 200-day moving average of $121.48. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $127.60. The firm has a market capitalization of $223.52 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The company had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. During the same period last year, the business earned $1.78 earnings per share. Chevron’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 6.93 EPS for the current year.
The company also recently disclosed 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 dividend payout ratio (DPR) is currently 57.70%.
In other news, EVP Joseph C. Geagea sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $122.97, for a total value of $1,229,700.00. Following the completion of the transaction, the executive vice president now directly owns 11,243 shares in the company, valued at $1,382,551.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The disclosure for this sale can be found here. Insiders sold 53,850 shares of company stock valued at $6,704,375 over the last 90 days. 0.31% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 target price for the company. Morgan Stanley reduced their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $135.41.
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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