Townsquare Capital LLC bought a new position in Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel reports. The firm bought 119,844 shares of the oil and gas company’s stock, valued at approximately $14,319,000. Chevron makes up 1.9% of Townsquare Capital LLC’s investment portfolio, making the stock its 9th biggest holding.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 149,871,580 shares of the oil and gas company’s stock worth $18,326,297,000 after acquiring an additional 1,897,503 shares in the last quarter. Vanguard Group Inc lifted its holdings in Chevron by 1.3% during the third quarter. Vanguard Group Inc now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after purchasing an additional 1,897,503 shares during the last quarter. BlackRock Inc. lifted its holdings in Chevron by 5.2% during the fourth quarter. BlackRock Inc. now owns 127,839,017 shares of the oil and gas company’s stock valued at $13,907,606,000 after purchasing an additional 6,328,133 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Chevron by 10,867.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 55,998,891 shares of the oil and gas company’s stock worth $515,000 after buying an additional 55,488,319 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Chevron by 2.2% in the fourth quarter. Northern Trust Corp now owns 26,710,573 shares of the oil and gas company’s stock worth $2,905,842,000 after buying an additional 563,450 shares in the last quarter. Hedge funds and other institutional investors own 65.44% of the company’s stock.
In other Chevron news, Director Enrique Hernandez, Jr. sold 2,100 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total transaction of $255,675.00. Following the completion of the sale, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $125.60, for a total value of $596,600.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $596,600. The disclosure for this sale can be found here. Insiders sold 15,800 shares of company stock worth $1,958,211 in the last 90 days. Company insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.13. The business had revenue of $35.20 billion for the quarter, compared to the consensus estimate of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. On average, research analysts predict that Chevron Co. will post 7.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.19 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.76 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio is currently 57.70%.
Several research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Chevron to a “sector perform” rating and set a $145.00 price objective on the stock in a research report on Wednesday, March 6th. Barclays raised their target price on shares of Chevron from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Mizuho restated a “buy” rating and issued a $140.00 target price on shares of Chevron in a report on Wednesday, March 6th. Morgan Stanley began coverage on shares of Chevron in a report on Monday, April 1st. They issued an “overweight” rating and a $146.00 target price on the stock. Finally, Citigroup began coverage on Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $135.42.
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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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