Opus Investment Management Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 160.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,500 shares of the oil and gas company’s stock after buying an additional 20,000 shares during the quarter. Opus Investment Management Inc.’s holdings in Chevron were worth $3,974,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Canton Hathaway LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $141,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $144,000. O Brien Wealth Partners LLC lifted its stake in shares of Chevron by 4,389.3% in the 3rd quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 1,229 shares during the last quarter. Atlantic Trust LLC lifted its stake in shares of Chevron by 54.7% in the 2nd quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 520 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. lifted its stake in shares of Chevron by 45.4% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 462 shares during the last quarter. 67.51% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on CVX shares. Credit Suisse Group set a $138.00 price target on Chevron and gave the company a “buy” rating in a research note on Saturday, December 8th. Wells Fargo & Co decreased their target price on Chevron from $160.00 to $158.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a research note on Tuesday, October 23rd. Societe Generale decreased their target price on Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Finally, Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $133.20.
CVX stock opened at $116.95 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $223.47 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 4.03 and a beta of 1.02. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $131.08.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $42.35 billion for the quarter, compared to analyst estimates of $41.46 billion. Chevron had a return on equity of 9.82% and a net margin of 8.91%. Chevron’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. Equities analysts forecast that Chevron Co. will post 6.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be given a $1.19 dividend. The ex-dividend date is Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a yield of 4.07%. This is a positive change from Chevron’s previous quarterly dividend of $1.12. Chevron’s dividend payout ratio (DPR) is currently 54.30%.
In other news, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the transaction, the insider now owns 7,200 shares in the company, valued at approximately $838,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $112.20, for a total value of $532,950.00. Following the completion of the transaction, the insider now owns 4,750 shares in the company, valued at approximately $532,950. The disclosure for this sale can be found here. Insiders sold a total of 26,200 shares of company stock worth $3,072,725 in the last ninety days. 0.46% of the stock is owned by corporate insiders.
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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