Rice Hall James & Associates LLC trimmed its stake in Chevron Co. (NYSE:CVX – Get Rating) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,737 shares of the oil and gas company’s stock after selling 300 shares during the period. Rice Hall James & Associates LLC’s holdings in Chevron were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Worth Asset Management LLC purchased a new stake in shares of Chevron in the 1st quarter worth approximately $36,000. JDM Financial Group LLC purchased a new stake in shares of Chevron in the 4th quarter worth approximately $42,000. Global Wealth Strategies & Associates purchased a new stake in shares of Chevron in the 4th quarter worth approximately $46,000. Orion Capital Management LLC lifted its position 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 worth $53,000 after purchasing an additional 73 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its position in Chevron by 127.3% during the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Insider Buying and Selling
In related news, VP Rhonda J. Morris sold 19,666 shares of the 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 sale, the vice president now directly 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 accessible through this link. 0.32% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Chevron Stock Up 0.6 %
NYSE:CVX opened at $169.22 on Wednesday. The firm has a market capitalization of $322.65 billion, a P/E ratio of 9.26, a PEG ratio of 0.81 and a beta of 1.16. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68. The company’s fifty day moving average price is $163.73 and its 200-day moving average price is $170.20. 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 (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The business had revenue of $56.47 billion during the quarter, compared to analyst estimates of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.56 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 14.56 EPS for the current year.
Chevron announced that its Board of Directors has initiated a share buyback program on Wednesday, January 25th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Chevron Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a $1.51 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.57%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio is presently 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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