Private Wealth Partners LLC lessened its position in Chevron Co. (NYSE:CVX – Get Rating) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,840 shares of the oil and gas company’s stock after selling 858 shares during the period. Chevron makes up 2.9% of Private Wealth Partners LLC’s portfolio, making the stock its 12th biggest position. Private Wealth Partners LLC’s holdings in Chevron were worth $25,279,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. ICW Investment Advisors LLC boosted its holdings in shares of Chevron by 0.5% in the third quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company’s stock worth $1,570,000 after buying an additional 55 shares during the period. Childress Capital Advisors LLC boosted its holdings in shares of Chevron by 0.8% in the third quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock worth $1,051,000 after buying an additional 57 shares during the period. Howard Capital Management Group LLC boosted its holdings in shares of Chevron by 3.3% in the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock worth $322,000 after buying an additional 57 shares during the period. Klingman & Associates LLC boosted its holdings in shares of Chevron by 1.6% in the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock worth $537,000 after buying an additional 58 shares during the period. Finally, Aries Wealth Management boosted its holdings in shares of Chevron by 0.5% during the fourth quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 69.37% of the company’s stock.
Insider Activity
In related news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the transaction, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
Analyst Upgrades and Downgrades
Chevron Trading Up 0.5 %
NYSE:CVX opened at $169.88 on Thursday. Chevron Co. has a 12 month low of $132.54 and a 12 month high of $189.68. The firm has a market cap of $323.91 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.82 and a beta of 1.16. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $164.58 and its 200-day moving average is $169.67.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The firm had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the prior year, the business earned $2.56 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 14.56 EPS for the current year.
Chevron declared that its Board of Directors has initiated a share buyback program on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in outstanding 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 programs are typically a sign that the company’s management believes its stock is undervalued.
Chevron Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a $1.51 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.56%. Chevron’s dividend payout ratio (DPR) is currently 33.04%.
Chevron Company 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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