Putnam FL Investment Management Co. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,594 shares of the oil and gas company’s stock after buying an additional 7,859 shares during the period. Putnam FL Investment Management Co.’s holdings in Chevron were worth $6,340,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Chevron by 1.9% in the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock valued at $16,090,676,000 after purchasing an additional 2,356,734 shares during the last quarter. Geode Capital Management LLC lifted its stake in Chevron by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock valued at $2,478,038,000 after purchasing an additional 655,892 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Chevron by 2.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 8,453,505 shares of the oil and gas company’s stock valued at $1,058,082,000 after purchasing an additional 234,920 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Chevron by 9.1% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,631,817 shares of the oil and gas company’s stock valued at $896,738,000 after purchasing an additional 638,516 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Chevron by 11.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 7,253,062 shares of the oil and gas company’s stock valued at $908,011,000 after purchasing an additional 732,739 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.
In other news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph C. Geagea sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $128.04, for a total transaction of $1,536,480.00. The disclosure for this sale can be found here. Insiders have sold 391,250 shares of company stock worth $50,351,940 over the last ninety days. Insiders own 0.38% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Wells Fargo & Co raised their target price on shares of Chevron from $138.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 12th. They noted that the move was a valuation call. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price for the company in a research note on Wednesday, March 28th. Mizuho assumed coverage on shares of Chevron in a research note on Friday, June 8th. They issued a “buy” rating and a $145.00 target price for the company. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating in a research note on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $135.52.
Shares of Chevron opened at $125.10 on Friday, according to MarketBeat.com. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88. The company has a market cap of $234.18 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX) last announced its earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The company had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same period last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. equities analysts predict that Chevron Co. will post 8.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 11th. Stockholders of record on Friday, May 18th were issued a dividend of $1.12 per share. The ex-dividend date was Thursday, May 17th. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. Chevron’s dividend payout ratio is presently 121.08%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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