SPC Financial Inc. Sells 415 Shares of Chevron Co. (CVX)
SPC Financial Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,915 shares of the oil and gas company’s stock after selling 415 shares during the period. SPC Financial Inc.’s holdings in Chevron were worth $615,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Pathstone Family Office LLC raised its stake in Chevron by 2.5% in the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after purchasing an additional 20 shares during the last quarter. Accurate Investment Solutions Inc. raised its stake in Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the last quarter. Ffcm LLC raised its stake in Chevron by 121.1% in the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 822 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Chevron in the 2nd quarter valued at about $160,000. Institutional investors and hedge funds own 65.04% of the company’s stock.
Several research analysts recently weighed in on the stock. Credit Suisse Group cut their target price on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, March 7th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $113.61 to $138.00 in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Vetr downgraded shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price for the company. in a research note on Monday, February 26th. Finally, BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $130.00.
Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the company posted $0.22 EPS. analysts expect that Chevron Co. will post 6.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is 92.37%.
Chevron Company Profile
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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