Chevron Co. (NYSE:CVX) Position Trimmed by Laurel Wealth Advisors Inc.
Laurel Wealth Advisors Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 5.1% in the first quarter, HoldingsChannel.com reports. The firm owned 44,931 shares of the oil and gas company’s stock after selling 2,400 shares during the period. Chevron makes up 1.4% of Laurel Wealth Advisors Inc.’s portfolio, making the stock its 7th biggest position. Laurel Wealth Advisors Inc.’s holdings in Chevron were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in CVX. Capital International Investors boosted its position in Chevron by 157.4% during the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock worth $2,905,102,000 after purchasing an additional 14,528,219 shares during the period. Renaissance Technologies LLC boosted its position in Chevron by 320.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after buying an additional 2,175,800 shares during the last quarter. Vanguard Group Inc boosted its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after buying an additional 1,897,503 shares during the last quarter. Vanguard Group Inc. boosted its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after buying an additional 1,897,503 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Chevron by 298.6% in the 4th quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock valued at $184,416,000 after buying an additional 1,269,889 shares during the last quarter. 65.39% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on CVX shares. Citigroup upped their price objective on shares of Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Royal Bank of Canada raised shares of Chevron to a “sector perform” rating and set a $145.00 price objective for the company in a research report on Wednesday, March 6th. Cowen reissued an “outperform” rating and issued a $140.00 price objective (down from $160.00) on shares of Chevron in a research report on Thursday, February 28th. Morgan Stanley started coverage on shares of Chevron in a research report on Friday, April 12th. They issued an “overweight” rating and a $150.00 price objective for the company. Finally, Barclays upped their price objective on shares of Chevron from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average price target of $135.42.
Shares of Chevron stock opened at $120.75 on Monday. The stock has a market capitalization of $230.11 billion, a PE ratio of 14.64, a P/E/G ratio of 2.44 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $128.55.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.13. The business had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 EPS. Sell-side analysts forecast that Chevron Co. will post 7.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a $1.19 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.
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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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