9258 Wealth Management LLC lifted its position in Chevron Co. (NYSE:CVX – Get Rating) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,198 shares of the oil and gas company’s stock after acquiring an additional 1,804 shares during the quarter. 9258 Wealth Management LLC’s holdings in Chevron were worth $2,369,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mayflower Financial Advisors LLC raised its stake 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 worth $16,533,000 after purchasing an additional 1,453 shares during the period. M&R Capital Management Inc. grew its holdings in 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 valued at $1,361,000 after buying an additional 674 shares in the last quarter. CapWealth Advisors LLC grew its holdings in Chevron by 0.6% during the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after buying an additional 1,097 shares in the last quarter. Cypress Capital Management LLC grew its holdings in shares of Chevron by 0.6% during the third quarter. Cypress Capital Management LLC now owns 46,934 shares of the oil and gas company’s stock worth $6,743,000 after purchasing an additional 293 shares in the last quarter. Finally, ACG Wealth grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Insiders Place Their Bets
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 transaction of $3,343,220.00. Following the transaction, the vice president now owns 3,967 shares in the company, valued at approximately $674,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Chevron Price Performance
CVX stock opened at $171.48 on Tuesday. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. 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 business has a fifty day moving average of $163.77 and a two-hundred day moving average of $171.54. The stock has a market cap of $324.89 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.16.
Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The company had revenue of $56.47 billion during 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 company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.56 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 14.39 earnings per share for the current year.
Chevron announced that its board has approved a share repurchase program on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 21.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Chevron Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.52%. The ex-dividend date was Wednesday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.42. Chevron’s payout ratio is 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.
Featured Stories
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- Medtronic: Reversal In-Play For This High-Yield Stock
- Is it ‘Game Over’ for Roblox After Reporting March Metrics Miss?
- Is it Time to Take Profits in Chip Stocks?
- Will Stratasys Continue to be a Runaway Bride?
- Garrett Motion Inc. Skids on Results: Is it Time to Buy the Dip?
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Get Rating).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
