Kovitz Investment Group Partners LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating ) by 26.3% in the first quarter, Holdings Channel.com reports. The firm owned 7,154 shares of the oil and gas company’s stock after selling 2,548 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Chevron were worth $1,165,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Secure Asset Management LLC boosted its position in shares of Chevron by 15.7% in the first quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after purchasing an additional 593 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in shares of Chevron by 26.4% in the first quarter. Guinness Atkinson Asset Management Inc. now owns 6,346 shares of the oil and gas company’s stock valued at $1,033,000 after buying an additional 1,326 shares in the last quarter. ACT Wealth Management LLC boosted its position in shares of Chevron by 3.0% in the first quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 140 shares in the last quarter. FSB Premier Wealth Management Inc. raised its holdings in shares of Chevron by 3.6% in the first quarter. FSB Premier Wealth Management Inc. now owns 2,151 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 75 shares during the last quarter. Finally, Coastal Investment Advisors Inc. lifted its holdings in shares of Chevron by 26.6% in the first quarter. Coastal Investment Advisors Inc. now owns 14,020 shares of the oil and gas company’s stock worth $2,283,000 after purchasing an additional 2,947 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s shares.
Shares of NYSE CVX opened at $142.77 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.43, and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $280.52 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.61 and a beta of 1.14. The stock’s fifty day simple moving average is $162.68 and its 200 day simple moving average is $152.09. Chevron Co has a 52 week low of $92.86 and a 52 week high of $182.40.
Chevron (NYSE:CVX – Get Rating ) last released its earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) 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 analyst estimates of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. Business revenue increased by 69.8% compared to the same quarter last year. During the same quarter a year ago, the firm earned $0.90 per share. As a group, analysts predict that Chevron Co. will post 17.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a dividend of $1.42 per share. The ex-dividend date was Wednesday, May 18th. This represents a dividend of $5.68 on an annualized basis and a yield of 3.98%. Chevron’s dividend payout ratio is 53.38%.
In other news, EVP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now owns 788 shares in the company, valued at $125,662.36. The sale was disclosed in a filing with the Securities and Exchange Commission, which is accessible through this link. Also, director Enrique Hernandez, Jr. sold 5,805 shares of Chevron stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total value of $928,800.00. Following the transaction, the director now owns 22,978 shares in the company, valued at approximately $3,676,480. Disclosure for this sale can be found here. Insiders have sold 561,726 shares of company stock valued at $94,057,396 in the last quarter. 0.32% of shares are currently owned by corporate insiders.
Several brokerages have recently issued reports on CVX. Barclays lifted their price objective on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. StockNews.com began coverage on Chevron in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup upped their price objective on Chevron from $160.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 19th. UBS Group lifted their price objective on Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, April 5th. Finally, Royal Bank of Canada cut Chevron from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $160.00 to $165.00 in a research note on Thursday, 21 april One equities 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 company’s stock. Chevron has an average rating of “Moderate Buy” and a consensus price target of $168.85, based on data from MarketBeat.
Chevron profile (Get rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical 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 related to liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage and trading of natural gas, and operates a gas-to-liquids plant.
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