Archford Capital Strategies LLC Raises Holdings in Chevron Co. (NYSE:CVX)
Archford Capital Strategies LLC boosted its position in Chevron Co. (NYSE:CVX) by 17.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,712 shares of the oil and gas company’s stock after buying an additional 1,999 shares during the quarter. Archford Capital Strategies LLC’s holdings in Chevron were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bollard Group LLC boosted its position in Chevron by 2.9% in the third quarter. Bollard Group LLC now owns 65,591 shares of the oil and gas company’s stock valued at $8,021,000 after buying an additional 1,857 shares in the last quarter. South State Corp raised its stake in shares of Chevron by 16.2% in the third quarter. South State Corp now owns 79,328 shares of the oil and gas company’s stock worth $9,700,000 after acquiring an additional 11,034 shares during the last quarter. Opus Investment Management Inc. raised its stake in shares of Chevron by 160.0% in the third quarter. Opus Investment Management Inc. now owns 32,500 shares of the oil and gas company’s stock worth $3,974,000 after acquiring an additional 20,000 shares during the last quarter. Bernicke Wealth Management Ltd. raised its stake in shares of Chevron by 10.0% in the third quarter. Bernicke Wealth Management Ltd. now owns 6,188 shares of the oil and gas company’s stock worth $757,000 after acquiring an additional 560 shares during the last quarter. Finally, Keeler Thomas Management LLC raised its stake in shares of Chevron by 3.3% in the third quarter. Keeler Thomas Management LLC now owns 27,045 shares of the oil and gas company’s stock worth $3,307,000 after acquiring an additional 866 shares during the last quarter. 65.44% of the stock is owned by institutional investors and hedge funds.
CVX has been the subject of a number of research analyst reports. Cowen reaffirmed an “outperform” rating and issued a $140.00 target price (down from $160.00) on shares of Chevron in a research note on Thursday, February 28th. Tudor Pickering initiated coverage on shares of Chevron in a research note on Friday, March 1st. They issued a “buy” rating and a $133.00 target price for the company. Mizuho reaffirmed a “buy” rating and issued a $140.00 target price on shares of Chevron in a research note on Wednesday, March 6th. Barclays boosted their target price on shares of Chevron from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada raised shares of Chevron to a “sector perform” rating and set a $145.00 target price for the company in a research note on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Chevron presently has a consensus rating of “Buy” and an average price target of $135.42.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.13. The business had revenue of $35.20 billion during the quarter, compared to the consensus estimate of $38.42 billion. Chevron had a net margin of 8.45% and a return on equity of 9.07%. Chevron’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 7.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 57.70%.
In related news, Director Enrique Hernandez, Jr. sold 4,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the transaction, the director now owns 15,689 shares in the company, valued at $1,916,097.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $125.60, for a total transaction of $596,600.00. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at approximately $596,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,800 shares of company stock valued at $1,958,211. 0.31% of the stock is currently owned by insiders.
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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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