TLP Group LLC boosted its stake in Chevron Co. (NYSE:CVX) by 1,792.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,779 shares of the oil and gas company’s stock after buying an additional 1,685 shares during the period. TLP Group LLC’s holdings in Chevron were worth $203,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Earnest Partners LLC acquired a new stake in Chevron in the fourth quarter worth $114,000. Advisors Preferred LLC acquired a new stake in Chevron in the first quarter worth $110,000. Virtue Capital Management LLC acquired a new stake in Chevron in the fourth quarter worth $128,000. Litman Gregory Asset Management LLC increased its position in Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after buying an additional 975 shares during the period. Finally, Point72 Asia Hong Kong Ltd increased its position in Chevron by 20,716.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after buying an additional 1,243 shares during the period. 65.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $124.20, for a total transaction of $589,950.00. Following the completion of the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $589,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.
Several equities research analysts have weighed in on CVX shares. Mizuho started coverage on Chevron in a research report on Friday, June 8th. They issued a “buy” rating and a $145.00 target price on the stock. Piper Jaffray Companies reissued a “buy” rating and issued a $140.00 price target on shares of Chevron in a research note on Monday, April 23rd. Goldman Sachs Group reissued a “buy” rating and issued a $141.00 price target on shares of Chevron in a research note on Tuesday, July 31st. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Finally, Credit Suisse Group set a $132.00 price target on Chevron and gave the stock a “hold” rating in a research note on Sunday, July 1st. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $138.49.
NYSE:CVX opened at $117.75 on Tuesday. Chevron Co. has a 1 year low of $105.30 and a 1 year high of $133.88. The firm has a market capitalization of $225.72 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. 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 (NYSE:CVX) last announced its 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 firm 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 business earned $0.77 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. sell-side analysts predict that Chevron Co. will post 8.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.80%. Chevron’s dividend payout ratio is currently 121.08%.
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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