LVW Advisors LLC Acquires 4,553 Shares of Chevron Co. (CVX)
LVW Advisors LLC grew its holdings in Chevron Co. (NYSE:CVX) by 179.7% in the third quarter, HoldingsChannel.com reports. The fund owned 7,086 shares of the oil and gas company’s stock after buying an additional 4,553 shares during the period. LVW Advisors LLC’s holdings in Chevron were worth $833,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Chevron by 2.9% in the second 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 purchasing an additional 3,920,240 shares in the last quarter. BlackRock Inc. raised its stake in Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after purchasing an additional 1,975,865 shares in the last quarter. Capital World Investors raised its stake in Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after purchasing an additional 3,182,250 shares in the last quarter. Northern Trust Corp raised its stake in Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after purchasing an additional 157,021 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Chevron by 0.3% in the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after purchasing an additional 49,083 shares in the last quarter. 63.72% of the stock is owned by institutional investors.
In other news, insider Pierre R. Breber sold 23,250 shares of the company’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 value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total value of $12,868,267.07. Following the completion of the transaction, the executive vice president now directly owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The disclosure for this sale can be found here. Insiders sold 264,021 shares of company stock valued at $30,619,037 in the last ninety days. 0.38% of the stock is currently owned by insiders.
Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The business had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same period in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. sell-side analysts forecast that Chevron Co. will post 6.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. The ex-dividend date is Thursday, February 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.93%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is currently 89.07%.
A number of research analysts recently commented on the company. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. Credit Suisse Group assumed coverage on Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price target for the company. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Wells Fargo & Co reaffirmed a “market perform” rating on shares of Chevron in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, BMO Capital Markets downgraded Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 price target for the company. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $130.30.
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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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