B. Riley Wealth Management Inc. bought a new position in Chevron Co. (NYSE:CVX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,242 shares of the oil and gas company’s stock, valued at approximately $2,598,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. Canton Hathaway LLC acquired a new position in shares of Chevron during the third quarter valued at $141,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Chevron during the third quarter valued at $144,000. O Brien Wealth Partners LLC increased its holdings in shares of Chevron by 4,389.3% during the third 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 period. Atlantic Trust LLC increased its holdings in shares of Chevron by 54.7% during the second 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 period. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Chevron during the third quarter valued at $188,000. 64.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVX stock opened at $124.60 on Friday. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $131.08. The stock has a market cap of $236.88 billion, a P/E ratio of 15.10, a PEG ratio of 3.75 and a beta of 1.03. The company has a quick ratio of 1.04, a current ratio of 1.25 and a debt-to-equity ratio of 0.18.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.08. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The business had revenue of $42.35 billion during the quarter, compared to analysts’ expectations of $41.46 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 6.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 15th were given a $1.19 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.82%. Chevron’s dividend payout ratio (DPR) is 57.70%.
In related news, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the transaction, the insider now owns 7,200 shares in the company, valued at approximately $838,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James William Johnson sold 4,750 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $532,950. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
CVX has been the topic of a number of research analyst reports. Tudor Pickering initiated coverage on Chevron in a report on Friday, March 1st. They set a “buy” rating and a $133.00 price target on the stock. Credit Suisse Group set a $135.00 target price on Chevron and gave the company a “buy” rating in a research note on Saturday, February 2nd. Raymond James set a $135.00 target price on Chevron and gave the company a “buy” rating in a research note on Thursday, December 20th. Societe Generale decreased their target price on Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Finally, UBS Group raised Chevron from a “neutral” rating to a “buy” rating and set a $112.95 target price for the company in a research note on Friday, January 18th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $134.18.
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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