Oakworth Capital Inc. grew its position in Chevron Co. (NYSE:CVX) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,882 shares of the oil and gas company’s stock after purchasing an additional 382 shares during the quarter. Oakworth Capital Inc.’s holdings in Chevron were worth $1,727,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of CVX. Fisher Asset Management LLC raised its holdings in Chevron by 3.4% during the second quarter. Fisher Asset Management LLC now owns 5,039,254 shares of the oil and gas company’s stock worth $627,085,000 after buying an additional 166,952 shares during the last quarter. Rhumbline Advisers raised its holdings in Chevron by 1.1% during the fourth quarter. Rhumbline Advisers now owns 3,439,855 shares of the oil and gas company’s stock worth $374,222,000 after buying an additional 36,737 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in Chevron by 12,204.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock worth $325,980,000 after buying an additional 3,233,312 shares during the last quarter. Investec Asset Management LTD raised its holdings in Chevron by 33.0% during the second quarter. Investec Asset Management LTD now owns 2,139,343 shares of the oil and gas company’s stock worth $266,220,000 after buying an additional 530,897 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in Chevron by 2.7% during the second quarter. TD Asset Management Inc. now owns 1,993,109 shares of the oil and gas company’s stock worth $248,022,000 after buying an additional 51,804 shares during the last quarter. 66.45% of the stock is currently owned by institutional investors.
Several analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Citigroup started coverage on shares of Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 price target for the company. Barclays initiated coverage on shares of Chevron in a research report on Monday. They set an “overweight” rating and a $145.00 price target for the company. Finally, BMO Capital Markets initiated coverage on shares of Chevron in a research report on Tuesday. They set an “outperform” rating and a $165.00 target price for the company. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $136.78.
CVX traded up $0.47 on Thursday, reaching $118.35. The company had a trading volume of 11,895 shares, compared to its average volume of 6,253,847. The business has a 50 day simple moving average of $122.41 and a 200 day simple moving average of $121.41. The company has a market cap of $222.70 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. Chevron Co. has a 52-week low of $100.22 and a 52-week high of $127.60.
Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The business had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. Chevron’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 6.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s dividend payout ratio is currently 57.70%.
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.
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