Arvest Bank Trust Division boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,646 shares of the oil and gas company’s stock after purchasing an additional 401 shares during the period. Arvest Bank Trust Division’s holdings in Chevron were worth $1,283,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Amundi acquired a new position in shares of Chevron during the 2nd quarter worth $804,280,000. Vanguard Group Inc. boosted its holdings in Chevron by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock valued at $16,915,716,000 after purchasing an additional 5,427,422 shares during the period. Liberty Wealth Management LLC boosted its holdings in Chevron by 10,559.1% in the 2nd quarter. Liberty Wealth Management LLC now owns 3,513,656 shares of the oil and gas company’s stock valued at $33,546,000 after purchasing an additional 3,480,692 shares during the period. State Street Corp raised its stake in shares of Chevron by 1.3% in the 2nd quarter. State Street Corp now owns 139,640,367 shares of the oil and gas company’s stock valued at $14,625,932,000 after buying an additional 1,844,030 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Chevron by 6.9% in the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock valued at $2,440,693,000 after buying an additional 1,513,296 shares in the last quarter. 64.98% of the stock is owned by institutional investors and hedge funds.
CVX has been the subject of a number of recent analyst reports. Mizuho reiterated a “buy” rating on shares of Chevron in a research report on Wednesday, November 3rd. Zacks Investment Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating and set a $121.00 target price for the company. in a research report on Monday, December 6th. The Goldman Sachs Group increased their target price on shares of Chevron from $121.00 to $146.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 18th. Societe Generale began coverage on shares of Chevron in a research report on Friday, October 22nd. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Chevron from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 5th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Buy” and a consensus target price of $128.55.
In other news, VP R. Hewitt Pate sold 77,382 shares of the company’s stock in a transaction on Thursday, January 20th. The stock was sold at an average price of $130.01, for a total transaction of $10,060,433.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael K. Wirth sold 52,500 shares of the stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $113.79, for a total value of $5,973,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 485,883 shares of company stock valued at $59,644,645. 0.28% of the stock is owned by company insiders.
Shares of CVX opened at $129.55 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27. Chevron Co. has a 52 week low of $84.57 and a 52 week high of $137.00. The business has a 50-day simple moving average of $120.64 and a two-hundred day simple moving average of $109.84. The stock has a market cap of $249.73 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.91 and a beta of 1.28.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 28th. The oil and gas company reported $2.56 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.57). The firm had revenue of $48.22 billion for the quarter, compared to analysts’ expectations of $45.22 billion. Chevron had a return on equity of 7.95% and a net margin of 7.10%. The company’s revenue for the quarter was up 91.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. On average, equities analysts anticipate that Chevron Co. will post 8.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 10th. Investors of record on Wednesday, February 16th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Tuesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.34. Chevron’s payout ratio is currently 103.47%.
Chevron Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.
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