Capital International Investors increased its position in shares of Chevron Co. (NYSE:CVX) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,580,587 shares of the oil and gas company’s stock after acquiring an additional 1,429,639 shares during the period. Chevron makes up about 1.3% of Capital International Investors’ holdings, making the stock its 13th biggest position. Capital International Investors owned 1.72% of Chevron worth $3,926,286,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Roffman Miller Associates Inc. PA bought a new stake in Chevron during the 4th quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC bought a new stake in Chevron during the 4th quarter worth approximately $33,000. Price Wealth LLC increased its holdings in Chevron by 105.8% during the 4th quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 146 shares during the period. Birch Capital Management LLC bought a new stake in Chevron during the 4th quarter worth approximately $45,000. Finally, Quantum Capital Management bought a new stake in Chevron during the 3rd quarter worth approximately $51,000. 66.85% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director John Frank purchased 400 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average cost of $104.61 per share, for a total transaction of $41,844.00. Following the acquisition, the director now directly owns 5,114 shares of the company’s stock, valued at approximately $534,975.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 67,500 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the sale, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.02. Chevron had a net margin of 2.00% and a return on equity of 8.29%. The company had revenue of $36.35 billion during the quarter, compared to analysts’ expectations of $38.98 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s revenue was down 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 0.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th were paid a $1.29 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.19. The ex-dividend date was Friday, February 14th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.87%. Chevron’s dividend payout ratio is 82.30%.
CVX has been the subject of a number of research reports. Cowen cut their price target on shares of Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. UBS Group cut their price target on shares of Chevron from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Wells Fargo & Co cut their price target on shares of Chevron from $129.00 to $103.00 and set an “overweight” rating for the company in a research note on Friday, March 20th. Berenberg Bank reissued a “hold” rating and issued a $128.00 price target on shares of Chevron in a research note on Thursday, December 12th. Finally, Bank of America raised shares of Chevron from an “underperform” rating to a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $122.00.
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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