Capital Investment Advisory Services LLC raised its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,439 shares of the oil and gas company’s stock after purchasing an additional 322 shares during the period. Capital Investment Advisory Services LLC’s holdings in Chevron were worth $4,207,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CVX. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after acquiring an additional 73,141 shares during the period. Axiom Financial Strategies LLC increased its stake in shares of Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 1,476 shares in the last quarter. GQG Partners LLC increased its stake in shares of Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after buying an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC increased its stake in shares of Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after buying an additional 250,840 shares in the last quarter. Institutional investors and hedge funds 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 that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares in the company, valued at approximately $674,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.
Analyst Upgrades and Downgrades
Chevron Trading Down 0.4 %
NYSE:CVX opened at $169.12 on Monday. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week 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 stock has a market capitalization of $320.42 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.83 and a beta of 1.16. The business’s 50-day simple moving average is $163.76 and its 200-day simple moving average is $171.47.
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 the consensus estimate of $4.16 by ($0.07). The business had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.56 EPS. Sell-side analysts expect that Chevron Co. will post 14.39 earnings per share for the current fiscal year.
Chevron announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 21.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Chevron Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were paid a $1.51 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $6.04 annualized dividend and a yield of 3.57%. Chevron’s payout ratio is presently 33.04%.
About Chevron
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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