Prosperity Consulting Group LLC Takes Position in Chevron Co. (NYSE:CVX)



Prosperity Consulting Group LLC bought a new stake in Chevron Co. (NYSE:CVX – Get Rating) during the first quarter, Holdings Channel reports. The institutional investor bought 1,402 shares of the oil and gas company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Stonnington Group LLC increased its holdings in Chevron by 885.9% in the fourth quarter. Stonnington Group LLC now owns 45,915 shares of the oil and gas company’s stock worth $5,876,000 after buying an additional 41,258 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in Chevron by 7.8% in the fourth quarter. Pure Financial Advisors LLC now owns 4,044 shares of the oil and gas company’s stock worth $475,000 after buying an additional 292 shares during the last quarter. Wiley BROS. Aintree Capital LLC increased its holdings in Chevron by 5.2% in the fourth quarter. Wiley BROS. Aintree Capital LLC now owns 4,125 shares of the oil and gas company’s stock worth $484,000 after buying an additional 204 shares during the last quarter. Abner Herrman & Brock LLC increased its holdings in Chevron by 1.7% in the fourth quarter. Abner Herrman & Brock LLC now owns 155,243 shares of the oil and gas company’s stock worth $18,218,000 after buying an additional 2,646 shares during the last quarter. Finally, Perkins Coie Trust Co increased its holdings in Chevron by 4.6% in the fourth quarter. Perkins Coie Trust Co now owns 27,290 shares of the oil and gas company’s stock worth $3,203,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 65.89% of the company’s stock.

Chevron stock opened at $146.51 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock has a fifty day moving average price of $164.13 and a two-hundred day moving average price of $151.10. Chevron Co. has a 52-week low of $92.86 and a 52-week high of $182.40. The firm has a market capitalization of $287.86 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.63 and a beta of 1.09.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company had revenue of $54.37 billion for the quarter, compared to analyst estimates of $54.96 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The business’s revenue was up 69.8% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 17.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were given 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 3.88%. Chevron’s payout ratio is 53.38%.

In related news, VP Eimear P. Bonner sold 478 shares of Chevron stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $169.21, for a total value of $80,882.38. Following the completion of the sale, the vice president now directly owns 358 shares in the company, valued at $60,577.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company’s stock, valued at $628,138.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 561,726 shares of company stock valued at $94,057,396. Corporate insiders own 0.32% of the company’s stock.

Several equities analysts have commented on the company. JPMorgan Chase & Co. downgraded Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price target on the stock. in a report on Friday, March 11th. UBS Group increased their price target on Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, April 5th. Cowen lowered their price target on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday. Trust Financial lowered their price target on Chevron from $181.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, June 28th. Finally, Raymond James increased their price target on Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.24.

About Chevron (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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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