Lockheed Martin Investment Management Co. trimmed its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,035 shares of the oil and gas company’s stock after selling 4,230 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Chevron were worth $8,836,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Chevron by 21.9% during the first quarter. IFM Investors Pty Ltd now owns 305,910 shares of the oil and gas company’s stock worth $49,811,000 after purchasing an additional 54,883 shares in the last quarter. Axiom Financial Strategies LLC lifted its position in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares in the last quarter. Renaissance Investment Group LLC lifted its position in shares of Chevron by 19.1% during the first quarter. Renaissance Investment Group LLC now owns 2,084 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 334 shares in the last quarter. Finally, Horan Capital Advisors LLC. lifted its position in shares of Chevron by 5.1% during the first quarter. Horan Capital Advisors LLC. now owns 4,010 shares of the oil and gas company’s stock worth $653,000 after purchasing an additional 194 shares in the last quarter. 69.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CVX has been the topic of a number of recent research reports. Raymond James boosted their target price on shares of Chevron from $188.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Wells Fargo & Company upped their price target on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Piper Sandler upped their price target on shares of Chevron from $186.00 to $206.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Jefferies Financial Group initiated coverage on shares of Chevron in a report on Wednesday, October 19th. They issued a “hold” rating on the stock. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $202.00 price target on shares of Chevron in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.85.
Insider Transactions at Chevron
Chevron Stock Performance
Shares of Chevron stock traded down $1.65 during trading on Thursday, hitting $184.24. 5,831,218 shares of the stock were exchanged, compared to its average volume of 8,293,712. The stock’s fifty day moving average is $168.12 and its 200 day moving average is $161.64. The stock has a market cap of $356.25 billion, a PE ratio of 10.48, a P/E/G ratio of 0.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40. Chevron Co. has a 12 month low of $110.73 and a 12 month high of $189.68.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 EPS for the quarter, topping the consensus estimate of $5.22 by $0.34. The business had revenue of $66.64 billion during the quarter, compared to analyst estimates of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.96 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 19.24 EPS for the current year.
Chevron Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $5.68 annualized dividend and a dividend yield of 3.08%. Chevron’s dividend payout ratio is currently 32.31%.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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