National Asset Management Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,187 shares of the oil and gas company’s stock after buying an additional 4,894 shares during the period. National Asset Management Inc.’s holdings in Chevron were worth $3,395,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Campbell Newman Asset Management Inc. raised its position in shares of Chevron by 2.4% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 4,811 shares of the oil and gas company’s stock worth $429,000 after acquiring an additional 111 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Chevron by 3.3% during the second quarter. Gilbert & Cook Inc. now owns 3,549 shares of the oil and gas company’s stock worth $317,000 after purchasing an additional 115 shares in the last quarter. Plancorp LLC lifted its position in shares of Chevron by 1.2% during the 2nd quarter. Plancorp LLC now owns 10,256 shares of the oil and gas company’s stock worth $915,000 after buying an additional 119 shares during the last quarter. Vivid Financial Management Inc. boosted its holdings in shares of Chevron by 1.2% in the 2nd quarter. Vivid Financial Management Inc. now owns 10,027 shares of the oil and gas company’s stock valued at $895,000 after buying an additional 120 shares in the last quarter. Finally, Mitchell Capital Management Co. grew its position in shares of Chevron by 0.8% in the 2nd quarter. Mitchell Capital Management Co. now owns 15,721 shares of the oil and gas company’s stock valued at $1,403,000 after buying an additional 121 shares during the last quarter. 64.01% of the stock is owned by institutional investors.
NYSE:CVX traded down $2.68 during trading hours on Tuesday, hitting $86.28. The company’s stock had a trading volume of 175,001 shares, compared to its average volume of 11,292,849. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $122.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.26. The business’s 50-day moving average is $73.36 and its two-hundred day moving average is $84.17. The company has a market capitalization of $166.12 billion, a PE ratio of -14.49 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Wednesday, November 4th. The oil and gas company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.38. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The business had revenue of $24.45 billion for the quarter, compared to analysts’ expectations of $26.34 billion. During the same period in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was down 32.3% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post -0.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $1.29 per share. The ex-dividend date is Tuesday, November 17th. This represents a $5.16 annualized dividend and a yield of 5.98%. Chevron’s payout ratio is currently 82.30%.
CVX has been the subject of several research analyst reports. Scotia Howard Weill downgraded shares of Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price objective for the company. in a research note on Thursday, September 24th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 target price for the company. in a report on Wednesday, September 23rd. MKM Partners initiated coverage on Chevron in a research note on Thursday, September 24th. They set a “buy” rating and a $121.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $95.00 price objective on shares of Chevron in a research note on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $108.00 price objective on shares of Chevron in a report on Tuesday, August 11th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and a consensus price target of $107.28.
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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