Threadgill Financial LLC grew its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,508 shares of the oil and gas company’s stock after acquiring an additional 153 shares during the quarter. Chevron comprises about 1.4% of Threadgill Financial LLC’s holdings, making the stock its 18th largest position. Threadgill Financial LLC’s holdings in Chevron were worth $3,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Worth Asset Management LLC acquired a new position in shares of Chevron during the 1st quarter valued at about $36,000. JDM Financial Group LLC acquired a new position in shares of Chevron during the 4th quarter valued at about $42,000. Global Wealth Strategies & Associates purchased a new stake in shares of Chevron during the 4th quarter worth about $46,000. Orion Capital Management LLC grew its holdings in shares of Chevron by 32.9% during 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. grew its holdings in shares of Chevron by 127.3% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 69.37% of the company’s stock.
Insider Activity at Chevron
In related news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 3,967 shares of the company’s stock, valued at approximately $674,390. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing the consensus estimate of $4.16 by ($0.07). The business had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.56 earnings per share. On average, analysts expect that Chevron Co. will post 14.48 EPS for the current fiscal year.
Chevron announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 25th that authorizes the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Chevron Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a dividend of $1.51 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio is currently 33.04%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, March 27th. Mizuho reiterated a “neutral” rating and set a $206.00 target price on shares of Chevron in a report on Tuesday, April 11th. Barclays boosted their target price on Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Cowen decreased their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Finally, Raymond James decreased their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Monday, January 30th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.11.
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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