Northwest Capital Management Inc Trims Holdings in Chevron Co. (NYSE:CVX)
Northwest Capital Management Inc lowered its stake in shares of Chevron Co. (NYSE:CVX) by 36.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,345 shares of the oil and gas company’s stock after selling 1,899 shares during the quarter. Northwest Capital Management Inc’s holdings in Chevron were worth $416,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Murphy Middleton Hinkle & Parker Inc. boosted its holdings in Chevron by 0.6% in the 2nd quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after acquiring an additional 84 shares during the period. Landsberg Bennett & Dubbaneh LLC boosted its stake in shares of Chevron by 1.7% during the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 86 shares during the last quarter. JNBA Financial Advisors boosted its stake in shares of Chevron by 1.6% during the 2nd quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock valued at $697,000 after buying an additional 86 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. boosted its stake in shares of Chevron by 0.5% during the 4th quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock valued at $1,967,000 after buying an additional 90 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC boosted its stake in shares of Chevron by 0.5% during the 4th quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock valued at $1,988,000 after buying an additional 92 shares during the last quarter. 66.45% of the stock is owned by institutional investors.
CVX has been the subject of several research analyst reports. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Citigroup initiated coverage on Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 target price for the company. Barclays initiated coverage on Chevron in a research note on Monday. They set an “overweight” rating and a $145.00 target price for the company. Finally, Morgan Stanley reduced their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $135.11.
Shares of CVX opened at $115.77 on Tuesday. The firm has a market capitalization of $219.86 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 2.79 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. The stock’s fifty day moving average is $122.67 and its 200-day moving average is $121.40.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The company had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. Analysts forecast that Chevron Co. will post 6.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Friday, August 16th. Chevron’s payout ratio is currently 57.70%.
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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