Quadrature Capital Ltd bought a new stake in Chevron Co. (NYSE:CVX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,016 shares of the oil and gas company’s stock, valued at approximately $1,518,000.
Other hedge funds have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. raised its holdings in shares of Chevron by 2.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 29,423 shares of the oil and gas company’s stock valued at $2,625,000 after purchasing an additional 653 shares during the last quarter. Horizon Investments LLC increased its holdings in Chevron by 105.2% during the second quarter. Horizon Investments LLC now owns 53,029 shares of the oil and gas company’s stock worth $4,732,000 after buying an additional 27,185 shares during the last quarter. Braun Stacey Associates Inc. increased its holdings in Chevron by 11.3% during the second quarter. Braun Stacey Associates Inc. now owns 146,455 shares of the oil and gas company’s stock worth $13,068,000 after buying an additional 14,915 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in Chevron by 8.2% during the first quarter. Midwest Professional Planners LTD. now owns 3,221 shares of the oil and gas company’s stock worth $233,000 after buying an additional 244 shares during the last quarter. Finally, Rampart Investment Management Company LLC increased its holdings in Chevron by 11.8% during the second quarter. Rampart Investment Management Company LLC now owns 15,901 shares of the oil and gas company’s stock worth $1,419,000 after buying an additional 1,680 shares during the last quarter. Institutional investors own 64.01% of the company’s stock.
Chevron stock traded down $0.35 during mid-day trading on Friday, reaching $81.93. 10,492,862 shares of the company traded hands, compared to its average volume of 8,741,008. The firm has a market capitalization of $152.99 billion, a price-to-earnings ratio of -17.58, a P/E/G ratio of 167.20 and a beta of 1.21. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $125.27. The firm’s 50 day moving average price is $87.27 and its 200 day moving average price is $88.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 0.87.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.66). The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The company’s revenue was down 64.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 0.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.29 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.16 annualized dividend and a yield of 6.30%. Chevron’s dividend payout ratio is currently 82.30%.
In related news, insider David A. Inchausti sold 5,750 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total value of $529,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.28% of the company’s stock.
A number of analysts recently issued reports on CVX shares. Piper Sandler downgraded shares of Chevron from an “overweight” rating to a “neutral” rating and set a $108.00 price objective for the company. in a report on Monday, August 17th. SunTrust Banks initiated coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued a “buy” rating and a $120.00 target price for the company. Raymond James lifted their target price on shares of Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Scotiabank lifted their target price on shares of Chevron from $90.00 to $95.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 13th. Finally, downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $107.14.
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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