Glenview Trust Co grew its position in shares of Chevron Co. (NYSE:CVX) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,848 shares of the oil and gas company’s stock after purchasing an additional 4,157 shares during the period. Chevron makes up approximately 1.5% of Glenview Trust Co’s investment portfolio, making the stock its 15th biggest position. Glenview Trust Co’s holdings in Chevron were worth $21,651,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CVX. Reilly Herbert Faulkner III boosted its position in shares of Chevron by 4.5% during the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock valued at $3,501,000 after buying an additional 1,334 shares during the period. Fiera Capital Corp boosted its position in shares of Chevron by 1.6% during the first quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock valued at $34,016,000 after buying an additional 4,800 shares during the period. Aries Wealth Management purchased a new position in shares of Chevron during the fourth quarter valued at approximately $1,727,000. Icon Wealth Partners LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $1,006,000. Finally, Roosevelt Investment Group Inc. boosted its position in shares of Chevron by 21.7% during the first quarter. Roosevelt Investment Group Inc. now owns 73,364 shares of the oil and gas company’s stock valued at $8,366,000 after buying an additional 13,097 shares during the period. Hedge funds and other institutional investors own 64.27% of the company’s stock.
CVX has been the subject of several recent analyst reports. Barclays boosted their target price on Chevron from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, April 30th. Wells Fargo & Co boosted their target price on Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. Mizuho initiated coverage on Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 target price for the company. ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Macquarie lowered Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 target price for the company. in a research report on Tuesday, July 3rd. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $138.49.
In other news, EVP James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $126.96, for a total transaction of $603,060.00. Following the completion of the sale, the executive vice president now owns 4,750 shares of the company’s stock, valued at $603,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 19,000 shares of company stock valued at $2,422,690 in the last ninety days. Insiders own 0.46% of the company’s stock.
Chevron stock opened at $117.80 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron Co. has a fifty-two week low of $105.30 and a fifty-two week high of $133.88. The company has a market cap of $236.34 billion, a PE ratio of 31.84, a P/E/G ratio of 2.18 and a beta of 1.10.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The company had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the prior year, the firm posted $0.77 EPS. The business’s revenue was up 22.5% on a year-over-year basis. sell-side analysts predict that Chevron Co. will post 8.1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Thursday, August 16th. 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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