Bank of Montreal Can decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,142,373 shares of the oil and gas company’s stock after selling 240,726 shares during the period. Bank of Montreal Can owned approximately 0.27% of Chevron worth $650,150,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in shares of Chevron in the 1st quarter worth $110,000. Earnest Partners LLC bought a new stake in shares of Chevron in the 4th quarter worth $114,000. Virtue Capital Management LLC bought a new stake in shares of Chevron in the 4th quarter worth $128,000. Litman Gregory Asset Management LLC grew its stake in shares of Chevron by 566.9% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 975 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd grew its stake in shares of Chevron by 20,716.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after acquiring an additional 1,243 shares in the last quarter. Hedge funds and other institutional investors own 65.02% of the company’s stock.
CVX opened at $115.23 on Friday. The stock has a market cap of $226.99 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron Co. has a fifty-two week low of $108.02 and a fifty-two week high of $133.88.
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). The company had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. Chevron’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. analysts predict that Chevron Co. will post 8.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be given 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 3.89%. Chevron’s payout ratio is currently 121.08%.
CVX has been the subject of several recent analyst reports. Goldman Sachs Group reiterated a “buy” rating and issued a $141.00 target price on shares of Chevron in a research note on Tuesday, July 31st. Mizuho initiated 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. Credit Suisse Group set a $132.00 target price on shares of Chevron and gave the stock a “hold” rating in a research note on Sunday, July 1st. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Finally, ValuEngine lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $138.34.
In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Thursday, July 12th. The shares were 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 in the company, valued at $589,950. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.
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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