Private Asset Management Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 173,604 shares of the oil and gas company’s stock after selling 7,969 shares during the period. Chevron accounts for about 3.5% of Private Asset Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Private Asset Management Inc.’s holdings in Chevron were worth $21,734,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pathstone Family Office LLC increased its holdings in shares of Chevron by 2.5% in the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after acquiring an additional 20 shares during the last quarter. Accurate Investment Solutions Inc. grew its stake in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares during the last quarter. Acrospire Investment Management LLC grew its stake in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares during the last quarter. Ffcm LLC grew its stake in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Chevron during the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 64.02% of the company’s stock.
Shares of Chevron Co. (CVX) opened at $113.65 on Wednesday. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.83 and a current ratio of 1.03. The firm has a market capitalization of $216,145.14, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a return on equity of 5.22% and a net margin of 6.49%. The company had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same period in the previous year, the business posted $0.22 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. equities analysts predict that Chevron Co. will post 6.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a $1.12 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 92.37%.
CVX has been the topic of a number of research reports. Royal Bank of Canada set a $110.00 price target on Chevron and gave the stock a “sell” rating in a research note on Wednesday, December 20th. Vetr downgraded Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target on the stock. in a research note on Monday, February 26th. Wells Fargo & Co dropped their price target on Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research note on Friday, November 17th. Finally, Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $130.28.
Chevron Company Profile
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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