Westwood Holdings Group Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 37.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 777,572 shares of the oil and gas company’s stock after acquiring an additional 212,122 shares during the quarter. Chevron accounts for about 1.1% of Westwood Holdings Group Inc.’s holdings, making the stock its 17th biggest position. Westwood Holdings Group Inc.’s holdings in Chevron were worth $96,761,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Guidant Wealth Advisors increased its position in Chevron by 63.9% during the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in Chevron during the 2nd quarter worth about $34,000. Cordasco Financial Network increased its position in Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares in the last quarter. CKW Financial Group increased its position in Chevron by 154.0% during the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 251 shares in the last quarter. Finally, Next Capital Management LLC purchased a new stake in Chevron during the 2nd quarter worth about $52,000. 65.61% of the stock is owned by institutional investors.
A number of analysts recently commented on CVX shares. Independent Research set a $127.00 price objective on Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Cowen set a $140.00 price target on Chevron and gave the company a “buy” rating in a report on Friday, August 30th. Barclays started coverage on Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. ValuEngine cut Chevron from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley lowered their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus target price of $136.22.
Shares of NYSE CVX traded up $0.72 during midday trading on Friday, hitting $124.38. The stock had a trading volume of 334,627 shares, compared to its average volume of 5,330,008. The company has a market capitalization of $235.20 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 3.11 and a beta of 1.01. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $119.22 and a 200 day moving average price of $121.38.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.53. The business had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. On average, research analysts forecast that Chevron Co. will post 6.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, August 16th. Chevron’s dividend payout ratio is currently 57.70%.
In other news, Director Debra L. Reed acquired 4,250 shares of Chevron stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $118.14 per share, with a total value of $502,095.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph C. Geagea sold 8,000 shares of Chevron stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the completion of the transaction, the insider now directly owns 9,243 shares in the company, valued at $1,132,267.50. The disclosure for this sale can be found here. Insiders sold a total of 86,750 shares of company stock worth $10,648,200 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
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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