Peak Financial Management Inc. bought a new position in shares of Chevron Co. (NYSE: CLC – Get a rating) during the 1st trimester, Participation channel reports. The company bought 2,045 shares of the oil and gas company, valued at around $333,000.
Several other hedge funds also changed their positions in CVX. Norges Bank bought a new position in Chevron in the fourth quarter worth approximately $3,111,594,000. Allspring Global Investments Holdings LLC acquired a new position in Chevron in the fourth quarter worth approximately $119,040,000. Invesco Ltd. increased its stake in Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company valued at $1,689,870,000 after purchasing an additional 917,773 shares during the period. Los Angeles Capital Management LLC increased its stake in Chevron by 534.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company valued at $111,113,000 after purchasing an additional 797,701 shares during the period. Finally, Renaissance Technologies LLC increased its position in Chevron shares by 28.9% during the fourth quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company worth $381,845,000 after purchasing an additional 730,170 shares during the period. Institutional investors hold 65.89% of the company’s shares.
Separately, Vice President Rhonda J. Morris sold 59,700 shares of the company in a transaction dated Friday, May 13. The stock was sold at an average price of $167.19, for a total transaction of $9,981,243.00. Following the sale, the vice president now owns 830 shares of the company, valued at approximately $138,767.70. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Additionally, Vice Chairman Eimear P. Bonner sold 478 shares of the company in a trade dated Friday, May 6. The shares were sold at an average price of $169.21, for a total value of $80,882.38. Following the sale, the vice president now owns 358 shares of the company, valued at approximately $60,577.18. Disclosure of this sale can be found here. Insiders sold a total of 561,726 shares of the company worth $94,057,396 in the past 90 days. 0.32% of the shares are currently held by company insiders.
Shares of CLC action opened at $146.51 on Monday. The company has a market capitalization of $287.86 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.64 and a beta of 1.14. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt ratio of 0.20. The stock’s fifty-day simple moving average is $164.13 and its 200-day simple moving average is $151.34.
Herringbone (NYSE: CLC – Get a rating) last released its quarterly earnings data on Friday, April 29. The oil and gas company reported earnings per share of $3.36 for the quarter, missing consensus analyst estimates of $3.44 per ($0.08). The company posted revenue of $54.37 billion for the quarter, versus a consensus estimate of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company’s revenue increased 69.8% year over year. During the same quarter of the previous year, the company achieved EPS of $0.90. As a group, equity research analysts expect Chevron Co. to post 17.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Investors of record on Thursday, May 19 received a dividend of $1.42 per share. The ex-dividend date was Wednesday, May 18. This represents a dividend of $5.68 on an annualized basis and a yield of 3.88%. Chevron’s dividend payout ratio is currently 53.38%.
A number of equity research analysts have recently commented on the company. Credit Suisse Group raised its price target on Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a Thursday, June 9 research report. StockNews.com began covering Chevron in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Raymond James raised his price target on Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a Monday, April 18 research report. Cowen cut its price target on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Royal Bank of Canada downgraded Chevron from an “outperform” rating to an “sector outperformer” rating and raised its price target for the company from $160.00 to $165.00 in a research note from Thursday, April 21. One investment analyst has assigned the stock a sell rating, eight have assigned a hold rating and fifteen have assigned the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.24.
Herringbone profile (Get a rating)
Chevron Corporation, through its subsidiaries, has integrated energy and chemical businesses 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 by pipelines; and the transportation, storage and marketing of natural gas, as well as the operation of a gas-to-liquids plant.
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