Private Capital Group LLC lifted its stake in Chevron Co. (NYSE:CVX) by 4.6% in the second quarter, HoldingsChannel.com reports. The firm owned 9,281 shares of the oil and gas company’s stock after buying an additional 412 shares during the period. Private Capital Group LLC’s holdings in Chevron were worth $1,173,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Live Your Vision LLC boosted its holdings in Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 616 shares during the period. Litman Gregory Asset Management LLC boosted its holdings in Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 975 shares during the period. Point72 Asia Hong Kong Ltd boosted its holdings in Chevron by 20,716.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 1,243 shares during the period. Shine Investment Advisory Services Inc. boosted its holdings in Chevron by 45.4% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 462 shares during the period. Finally, First National Bank of Hutchinson purchased a new position in Chevron during the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 64.66% of the company’s stock.
A number of research firms recently issued reports on CVX. Goldman Sachs Group restated a “buy” rating and set a $141.00 price objective on shares of Chevron in a report on Tuesday, July 31st. ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Monday, October 1st. Finally, Royal Bank of Canada set a $150.00 target price on Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $138.13.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.05. The firm had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. Chevron had a return on equity of 8.24% and a net margin of 8.79%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Research analysts expect that Chevron Co. will post 8.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s payout ratio is 121.08%.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $569,857.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
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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