Keystone Financial Planning Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,711 shares of the oil and gas company’s stock after selling 597 shares during the quarter. Chevron makes up approximately 3.9% of Keystone Financial Planning Inc.’s holdings, making the stock its 5th largest position. Keystone Financial Planning Inc.’s holdings in Chevron were worth $7,038,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CVX. Alyeska Investment Group L.P. bought a new stake in shares of Chevron in the 3rd quarter worth approximately $1,974,000. First Allied Advisory Services Inc. boosted its position in shares of Chevron by 1.5% in the 3rd quarter. First Allied Advisory Services Inc. now owns 75,365 shares of the oil and gas company’s stock worth $8,847,000 after purchasing an additional 1,096 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Chevron by 1.0% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 1,683,280 shares of the oil and gas company’s stock worth $197,785,000 after purchasing an additional 17,269 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Chevron by 27.6% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 772,792 shares of the oil and gas company’s stock worth $90,801,000 after purchasing an additional 167,114 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $665,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider James William Johnson sold 9,500 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total transaction of $1,229,680.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at approximately $1,229,680. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 391,250 shares of company stock valued at $50,351,940. Company insiders own 0.38% of the company’s stock.
Shares of CVX opened at $125.10 on Monday. The firm has a market cap of $238.97 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 2.10 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88.
Chevron (NYSE:CVX) last announced its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.45. The business had revenue of $37.76 billion during the quarter, compared to analyst estimates of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. sell-side analysts expect that Chevron Co. will post 8.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 18th were paid a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $4.48 dividend on an annualized basis and a yield of 3.58%. Chevron’s dividend payout ratio is presently 121.08%.
A number of equities analysts recently weighed in on CVX shares. Credit Suisse Group boosted their price objective on shares of Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a report on Wednesday, June 13th. Mizuho started coverage on shares of Chevron in a report on Friday, June 8th. They issued a “buy” rating and a $145.00 price objective for the company. Barclays boosted their price objective on shares of Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, April 30th. Finally, Raymond James upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $135.52.
Chevron Company Profile
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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