Columbus Macro LLC cut its position in Chevron Co. (NYSE:CVX – Get Rating) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,539 shares of the oil and gas company’s stock after selling 562 shares during the quarter. Columbus Macro LLC’s holdings in Chevron were worth $456,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC boosted its position in shares of Chevron by 1.6% during the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after acquiring an additional 1,453 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Chevron by 9.8% during the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after acquiring an additional 674 shares during the last quarter. CapWealth Advisors LLC grew its position in Chevron by 0.6% in the third quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock worth $24,959,000 after acquiring an additional 1,097 shares in the last quarter. Cypress Capital Management LLC increased its stake in Chevron by 0.6% in the third quarter. Cypress Capital Management LLC now owns 46,934 shares of the oil and gas company’s stock valued at $6,743,000 after acquiring an additional 293 shares during the last quarter. Finally, ACG Wealth lifted its stake in Chevron by 0.9% during the third quarter. ACG Wealth now owns 12,339 shares of the oil and gas company’s stock worth $1,773,000 after purchasing an additional 110 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors.
Insider Activity at Chevron
In other news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the transaction, the vice president now owns 3,967 shares in the company, valued at $674,390. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by insiders.
Analyst Ratings Changes
Chevron Stock Down 0.4 %
Shares of Chevron stock opened at $169.12 on Monday. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. The company has a 50-day moving average of $163.76 and a 200 day moving average of $171.47. The firm has a market cap of $320.42 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 0.83 and a beta of 1.16.
Chevron (NYSE:CVX – Get Rating) last issued 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 return on equity of 23.52% and a net margin of 14.40%. The company 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 firm earned $2.56 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 14.39 earnings per share for the current fiscal year.
Chevron announced that its board has approved a stock repurchase plan on Wednesday, January 25th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 21.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Chevron Increases Dividend
The business 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 represents a $6.04 annualized dividend and a dividend yield of 3.57%. 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 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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