Stableford Capital II LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,859 shares of the oil and gas company’s stock after selling 929 shares during the quarter. Stableford Capital II LLC’s holdings in Chevron were worth $1,026,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. McGuire Investment Group LLC purchased a new position in Chevron during the 4th quarter worth $207,000. Apella Capital LLC boosted its holdings in shares of Chevron by 17.7% in the 4th quarter. Apella Capital LLC now owns 7,908 shares of the oil and gas company’s stock worth $1,419,000 after buying an additional 1,192 shares during the last quarter. Gries Financial LLC boosted its holdings in shares of Chevron by 23.3% in the 4th quarter. Gries Financial LLC now owns 3,523 shares of the oil and gas company’s stock worth $632,000 after buying an additional 666 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Chevron in the 4th quarter worth about $7,999,000. Finally, Thomasville National Bank boosted its holdings in shares of Chevron by 4.2% in the 4th quarter. Thomasville National Bank now owns 5,587 shares of the oil and gas company’s stock worth $1,003,000 after buying an additional 225 shares during the last quarter. Institutional investors own 69.37% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. BNP Paribas downgraded shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a report on Wednesday, December 14th. Citigroup upped their price objective on shares of Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. HSBC upped their price objective on shares of Chevron to $187.00 in a report on Friday, December 2nd. Finally, Mizuho reaffirmed a “neutral” rating and set a $206.00 price objective on shares of Chevron in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $189.50.
Chevron Stock Down 1.3 %
Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.07). The company had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted $2.56 earnings per share. Sell-side analysts predict that Chevron Co. will post 14.73 EPS for the current fiscal year.
Chevron Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.96%. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio is 33.04%.
Chevron announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 25th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 21.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling
In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the completion of the sale, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by company insiders.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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