Verdence Capital Advisors LLC lowered its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 8.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 51,231 shares of the oil and gas company’s stock after selling 4,759 shares during the quarter. Chevron makes up about 1.1% of Verdence Capital Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Verdence Capital Advisors LLC’s holdings in Chevron were worth $9,195,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Worth Asset Management LLC purchased a new stake in Chevron in the 1st quarter worth approximately $36,000. JDM Financial Group LLC purchased a new stake in Chevron in the 4th quarter worth approximately $42,000. Global Wealth Strategies & Associates purchased a new stake in Chevron in the 4th quarter worth approximately $46,000. Orion Capital Management LLC lifted its stake in shares of Chevron by 32.9% in the 4th quarter. Orion Capital Management LLC now owns 295 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 73 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Chevron by 127.3% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Insider Buying and Selling at Chevron
In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the sale, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Chevron Stock Performance
Shares of CVX opened at $163.16 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The firm has a market capitalization of $311.09 billion, a P/E ratio of 8.93, a PEG ratio of 0.78 and a beta of 1.16. The business has a fifty day moving average of $165.22 and a 200 day moving average of $169.47.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the prior year, the firm posted $2.56 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 14.56 EPS for the current year.
Chevron announced that its board has initiated a stock buyback plan on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 21.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Chevron Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s payout ratio is currently 33.04%.
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 the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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