Bowling Portfolio Management LLC boosted its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 64.5% in the first quarter, HoldingsChannel.com reports. The firm owned 29,719 shares of the oil and gas company’s stock after acquiring an additional 11,648 during the period. Chevron accounts for approximately 1.0% of Bowling Portfolio Management LLC’s investment portfolio, making the stock its 16th biggest holding. Bowling Portfolio Management LLC’s holdings in Chevron were worth $4,839,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Selway Asset Management lifted its stake in Chevron by 1.9% in the first quarter. Selway Asset Management now owns 21,035 shares of the oil and gas company’s stock valued at $3,425,000 after buying an additional 400 shares during the last quarter. Okabena Investment Services Inc. bought a new stake in Chevron in the fourth quarter valued at $41,000. Cantor Fitzgerald Investment Adviser LP lifted its stake in Chevron by 1.4% in the fourth quarter. Cantor Fitzgerald Investment Adviser LP now owns 85,974 shares of the oil and gas company’s stock valued at $10,089,000 after buying an additional 1,176 shares during the last quarter. Graystone Financial Group LLC lifted its stake in Chevron by 9.6% in the fourth quarter. Graystone Financial Group LLC now owns 63,741 shares of the oil and gas company’s stock valued at $7,480,000 after buying an additional 5,573 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Chevron by 7.4% in the fourth quarter. Retirement Systems of Alabama now owns 1,479,134 shares of the oil and gas company’s stock valued at $173,576,000 after buying an additional 102,112 shares during the last quarter. 65.89% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. BMO Capital Markets raised their target price on Chevron from $140.00 to $170.00 in a research note on Wednesday, March 2nd. UBS Group lifted their objective price on shares of Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, April 5th. Trust Financial cut their price objective on shares of Chevron from $186.00 to $181.00 in a research note on Monday, May 2nd. Societe Generale cut shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research note on Friday, May 20th. Finally, Citigroup lifted their objective price on shares of Chevron from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $169.57.
Shares of CVX opened at $147.87 on Thursday. The business’s 50-day moving average price is $167.41 and its 200 day moving average price is $149.45. The stock has a market capitalization of $290.54 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.67 and a beta of 1.09. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The company had revenue of $54.37 billion during the quarter, compared to analysts’ expectations of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. On average, research analysts predict that Chevron Co. will post 17.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were paid a $1.42 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $5.68 dividend on an annual basis and a yield of 3.84%. Chevron’s dividend payout ratio is currently 53.38%.
In other Chevron news, Director Enrique Hernandez, Jr. sold 5,805 shares of Chevron stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $160.00, for a total transaction of $928,800.00. Following the transaction, the director now owns 22,978 shares of the company’s stock, valued at approximately $3,676,480. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $177.29, for a total value of $2,134,394.31. Following the transaction, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 561,726 shares of company stock worth $94,057,396. Company insiders own 0.32% of the company’s stock.
Chevron Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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