Viking Fund Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 11.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,650 shares of the oil and gas company’s stock after selling 3,000 shares during the period. Viking Fund Management LLC’s holdings in Chevron were worth $2,864,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. GWM Advisors LLC lifted its holdings in Chevron by 7.1% in the 4th quarter. GWM Advisors LLC now owns 34,653 shares of the oil and gas company’s stock valued at $4,454,000 after acquiring an additional 2,311 shares during the last quarter. Condor Capital Management lifted its holdings in Chevron by 7.5% in the 4th quarter. Condor Capital Management now owns 12,755 shares of the oil and gas company’s stock valued at $1,597,000 after acquiring an additional 891 shares during the last quarter. First Allied Advisory Services Inc. lifted its holdings in Chevron by 1.9% in the 4th quarter. First Allied Advisory Services Inc. now owns 76,779 shares of the oil and gas company’s stock valued at $9,681,000 after acquiring an additional 1,414 shares during the last quarter. Castle Rock Wealth Management LLC acquired a new stake in Chevron in the 4th quarter valued at about $3,447,000. Finally, Squar Milner Financial Services LLC acquired a new stake in Chevron in the 4th quarter valued at about $558,000. Hedge funds and other institutional investors own 65.02% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Mizuho assumed coverage on shares of Chevron in a report on Friday, June 8th. They issued a “buy” rating and a $145.00 price target for the company. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and cut their price target for the company from $150.00 to $135.00 in a report on Thursday. Barclays upped their price target on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Macquarie downgraded shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a report on Tuesday, July 3rd. Finally, Credit Suisse Group set a $132.00 price target on shares of Chevron and gave the company a “hold” rating in a report on Sunday, July 1st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $138.34.
In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s 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 sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $589,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.
CVX stock opened at $114.60 on Friday. 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 one year low of $108.02 and a one year high of $133.88. The stock has a market cap of $220.80 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.04 and a beta of 1.06.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $46.62 billion. During the same period in the prior year, the company posted $0.77 earnings per share. Chevron’s quarterly revenue was up 22.5% compared to the same quarter last year. sell-side analysts predict that Chevron Co. will post 8.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s dividend payout ratio is presently 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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