Arete Wealth Advisors LLC Has $316,000 Stake in Chevron Corporation (CVX)
Arete Wealth Advisors LLC lifted its position in Chevron Corporation (NYSE:CVX) by 27.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,025 shares of the oil and gas company’s stock after acquiring an additional 650 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Chevron were worth $316,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC lifted its holdings in Chevron by 10,213.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Chevron by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares in the last quarter. BlackRock Inc. lifted its holdings in Chevron by 1.6% during the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Chevron by 40.4% during the 2nd quarter. Principal Financial Group Inc. now owns 5,412,567 shares of the oil and gas company’s stock valued at $564,693,000 after buying an additional 1,556,270 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Chevron by 37.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 5,386,789 shares of the oil and gas company’s stock valued at $561,999,000 after buying an additional 1,464,546 shares in the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.
CVX has been the subject of a number of research analyst reports. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Jefferies Group set a $130.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 25th. Credit Suisse Group set a $123.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $123.00 price target (up previously from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $121.22.
In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the sale, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the sale, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,000 shares of company stock worth $36,540,822. 0.38% of the stock is owned by insiders.
Shares of Chevron Corporation (NYSE CVX) traded up $0.93 during trading on Monday, hitting $120.85. 436,704 shares of the stock were exchanged, compared to its average volume of 5,613,547. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Corporation has a 52-week low of $102.55 and a 52-week high of $122.30. The stock has a market cap of $227,772.92, a P/E ratio of 33.59, a P/E/G ratio of 3.97 and a beta of 1.21.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. equities research analysts expect that Chevron Corporation will post 4.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio is presently 125.95%.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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