Semmax Financial Advisors Inc. acquired a new position in Chevron Co. (NYSE:CVX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,564 shares of the oil and gas company’s stock, valued at approximately $388,000.
Other institutional investors have also recently modified their holdings of the company. CKW Financial Group increased its holdings in Chevron by 123.5% in the 4th quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 200 shares during the period. Portfolio Solutions LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $42,000. Highwater Wealth Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $51,000. Ironwood Financial llc boosted its stake in shares of Chevron by 94.2% in the 4th quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 261 shares in the last quarter. Finally, Tributary Capital Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $84,000. Institutional investors and hedge funds own 65.44% of the company’s stock.
Shares of NYSE CVX opened at $120.19 on Thursday. The stock has a market cap of $230.80 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.45 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.12. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $128.55.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.13. The business had revenue of $35.20 billion for the quarter, compared to the consensus estimate of $38.42 billion. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. On average, sell-side analysts forecast that Chevron Co. will post 7.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.19 per share. The ex-dividend date was Thursday, May 16th. This represents a $4.76 annualized dividend and a yield of 3.96%. Chevron’s dividend payout ratio (DPR) is 57.70%.
In related news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $125.60, for a total transaction of $596,600.00. Following the transaction, the insider now owns 4,750 shares in the company, valued at approximately $596,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the transaction, the director now owns 15,689 shares in the company, valued at $1,916,097.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,050 shares of company stock worth $1,365,221. 0.31% of the stock is owned by corporate insiders.
Several brokerages have recently commented on CVX. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Monday, April 29th. Cowen restated a “buy” rating and issued a $142.00 target price on shares of Chevron in a research note on Wednesday, April 17th. Morgan Stanley reduced their target price on shares of Chevron from $150.00 to $149.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Barclays boosted their target price on shares of Chevron from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Citigroup boosted their target price on shares of Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $135.42.
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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