Pioneer Investment Management Inc. raised its holdings in Chevron Corporation (NYSE:CVX) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,020 shares of the oil and gas company’s stock after acquiring an additional 11,380 shares during the period. Pioneer Investment Management Inc.’s holdings in Chevron Corporation were worth $18,782,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. HPM Partners LLC raised its holdings in Chevron Corporation by 197.0% in the 1st quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock valued at $4,159,000 after acquiring an additional 25,691 shares during the last quarter. Lincoln National Corp grew its stake in shares of Chevron Corporation by 33.3% in the 1st quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock valued at $8,859,000 after buying an additional 20,615 shares during the period. Adams Natural Resources Fund Inc. grew its stake in shares of Chevron Corporation by 8.8% in the 2nd quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock valued at $62,264,000 after buying an additional 48,100 shares during the period. Korea Investment CORP grew its stake in shares of Chevron Corporation by 5.1% in the 2nd quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after buying an additional 72,173 shares during the period. Finally, Strategic Financial Group LLC grew its stake in shares of Chevron Corporation by 6.0% in the 1st quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock valued at $964,000 after buying an additional 510 shares during the period. Institutional investors own 62.90% of the company’s stock.
Several research firms have recently weighed in on CVX. Credit Suisse Group set a $123.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Citigroup Inc dropped their price target on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Barclays PLC raised shares of Chevron Corporation to an “overweight” rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $120.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Sunday, July 30th. Finally, Vetr cut shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price target for the company. in a research note on Monday, October 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. Chevron Corporation currently has a consensus rating of “Hold” and an average target price of $120.45.
Shares of Chevron Corporation (CVX) opened at $114.99 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.74 and a current ratio of 0.95. The firm has a market cap of $219.05 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 3.91 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The business had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same period last year, the business earned $0.68 EPS. The company’s revenue was up 20.1% on a year-over-year basis. research analysts forecast that Chevron Corporation will post 4.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.76%. Chevron Corporation’s payout ratio is 125.95%.
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In other news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares in the company, valued at approximately $3,060,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.
Chevron Corporation Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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