Financial Counselors Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 5.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 162,522 shares of the oil and gas company’s stock after acquiring an additional 8,758 shares during the quarter. Chevron accounts for about 0.9% of Financial Counselors Inc.’s holdings, making the stock its 23rd biggest holding. Financial Counselors Inc.’s holdings in Chevron were worth $19,096,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CVX. Vanguard Group Inc. lifted its holdings in shares of Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares during the last quarter. Capital World Investors raised its holdings in Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Chevron by 669.9% during the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after buying an additional 2,810,928 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Chevron by 305,886.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after buying an additional 2,612,270 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Chevron by 1.6% during the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.
CVX has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $110.00 price target on shares of Chevron and gave the company a “sell” rating in a report on Wednesday, December 20th. Wells Fargo & Co lowered their price target on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Friday, November 17th. Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and an average price target of $130.30.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. equities research analysts predict that Chevron Co. will post 6.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a $1.12 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.00%. Chevron’s dividend payout ratio is currently 92.37%.
In other news, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the sale, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The disclosure for this sale can be found here. Insiders sold a total of 250,878 shares of company stock worth $29,107,461 over the last ninety days. Insiders own 0.38% of the company’s stock.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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