Alpha Cubed Investments LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,377 shares of the oil and gas company’s stock after selling 2,482 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Chevron were worth $924,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Fusion Family Wealth LLC boosted its position in shares of Chevron by 192.6% in the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 838 shares during the period. Lenox Wealth Advisors Inc. raised its stake in Chevron by 15,555.6% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 1,409 shares of the oil and gas company’s stock valued at $176,000 after acquiring an additional 1,400 shares during the last quarter. WCM Investment Management CA purchased a new stake in Chevron during the 4th quarter valued at approximately $202,000. Independence Trust CO purchased a new stake in Chevron during the 4th quarter valued at approximately $204,000. Finally, Bourgeon Capital Management LLC purchased a new stake in Chevron during the 4th quarter valued at approximately $206,000. 64.99% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Royal Bank of Canada raised Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price objective for the company in a research note on Friday, February 9th. Morgan Stanley upped their price objective on Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Credit Suisse Group upped their price objective on Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Vetr downgraded Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price objective for the company. in a research note on Monday, February 26th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $131.92.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. The business had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. equities research analysts expect that Chevron Co. will post 7.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Friday, May 18th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Thursday, May 17th. Chevron’s dividend payout ratio (DPR) is 121.08%.
In related news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total value of $3,110,235.00. Following the sale, the vice president now owns 25,500 shares in the company, valued at approximately $3,110,235. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Pierre R. Breber sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $130.41, for a total value of $3,260,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 377,000 shares of company stock valued at $48,519,200. Company insiders own 0.38% of the company’s stock.
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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