Rothschild & Co. Asset Management US Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 22.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 578,065 shares of the oil and gas company’s stock after selling 164,321 shares during the period. Chevron accounts for about 0.7% of Rothschild & Co. Asset Management US Inc.’s investment portfolio, making the stock its 22nd biggest holding. Rothschild & Co. Asset Management US Inc.’s holdings in Chevron were worth $41,621,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in CVX. New Mexico Educational Retirement Board raised its holdings in shares of Chevron by 15.5% in the 3rd quarter. New Mexico Educational Retirement Board now owns 146,956 shares of the oil and gas company’s stock worth $17,429,000 after purchasing an additional 19,700 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Chevron by 2.3% during 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 acquiring an additional 653 shares during the last quarter. Horizon Investments LLC lifted its holdings in Chevron by 105.2% in 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 period. Braun Stacey Associates Inc. raised its position in shares of Chevron by 11.3% in the 2nd quarter. Braun Stacey Associates Inc. now owns 146,455 shares of the oil and gas company’s stock worth $13,068,000 after acquiring an additional 14,915 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Chevron by 4.0% during the third quarter. Cornerstone Wealth Management LLC now owns 17,864 shares of the oil and gas company’s stock valued at $1,286,000 after purchasing an additional 686 shares in the last quarter. 64.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on CVX shares. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a research report on Wednesday, July 22nd. Raymond James restated a “buy” rating on shares of Chevron in a research report on Friday, October 30th. Scotia Howard Weill lowered Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price target on the stock. in a research report on Thursday, September 24th. Royal Bank of Canada restated a “sector perform” rating and set a $95.00 price target on shares of Chevron in a research report on Tuesday. Finally, MKM Partners started coverage on Chevron in a research report on Thursday, September 24th. They set a “buy” rating and a $121.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $107.28.
Chevron stock traded down $2.47 during mid-day trading on Tuesday, reaching $86.49. 213,716 shares of the stock traded hands, compared to its average volume of 11,292,849. The stock has a market capitalization of $166.12 billion, a PE ratio of -14.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97. Chevron Co. has a 12-month low of $51.60 and a 12-month high of $122.72. The business’s 50-day moving average is $73.36 and its 200-day moving average is $84.17.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.38. The company had revenue of $24.45 billion during the quarter, compared to analysts’ expectations of $26.34 billion. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. Chevron’s revenue for the quarter was down 32.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. Equities analysts anticipate that Chevron Co. will post -0.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Tuesday, November 17th. Chevron’s dividend payout ratio (DPR) is presently 82.30%.
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.
See Also: Correction
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.