KDI Capital Partners LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,862 shares of the oil and gas company’s stock, valued at approximately $1,861,000.
A number of other large investors have also recently added to or reduced their stakes in CVX. Fusion Family Wealth LLC raised its stake in shares of Chevron by 192.6% in the fourth quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 838 shares during the last quarter. Lenox Wealth Advisors Inc. raised its stake in shares of Chevron by 15,555.6% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 1,409 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 1,400 shares during the last quarter. WCM Investment Management CA bought a new position in shares of Chevron in the fourth quarter worth about $202,000. Independence Trust CO bought a new position in shares of Chevron in the fourth quarter worth about $204,000. Finally, Bourgeon Capital Management LLC bought a new position in shares of Chevron in the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 64.42% of the company’s stock.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $128.00, for a total transaction of $16,640,000.00. Following the completion of the sale, the chief executive officer now directly owns 130,000 shares of the company’s stock, valued at approximately $16,640,000. The disclosure for this sale can be found here. Insiders sold 377,000 shares of company stock valued at $48,519,200 in the last ninety days. Insiders own 0.38% of the company’s stock.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The firm had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. research analysts anticipate that Chevron Co. will post 7.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.48%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is presently 121.08%.
A number of equities analysts have weighed in on CVX shares. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, February 5th. Barclays boosted their target price on shares of Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, April 30th. Credit Suisse Group dropped their target price on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, March 7th. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price for the company in a research note on Tuesday, April 3rd. Finally, ValuEngine raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus price target of $131.92.
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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