AHL Investment Management Inc. increased its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,309 shares of the oil and gas company's stock after buying an additional 131 shares during the period. Chevron accounts for 2.4% of AHL Investment Management Inc.'s holdings, making the stock its 16th largest position. AHL Investment Management Inc.'s holdings in Chevron were worth $2,568,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. ICW Investment Advisors LLC raised its position in Chevron by 0.5% during the third quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company's stock valued at $1,570,000 after purchasing an additional 55 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in shares of Chevron by 0.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company's stock valued at $1,051,000 after buying an additional 57 shares in the last quarter. Howard Capital Management Group LLC lifted its position in Chevron by 3.3% in the 4th quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company's stock worth $322,000 after buying an additional 57 shares during the last quarter. Klingman & Associates LLC boosted its stake in Chevron by 1.6% in the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company's stock worth $537,000 after buying an additional 58 shares in the last quarter. Finally, Knuff & Co LLC grew its position in Chevron by 0.5% during the third quarter. Knuff & Co LLC now owns 12,234 shares of the oil and gas company's stock valued at $1,758,000 after acquiring an additional 60 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors.
Get Chevron alerts:Insider Buying and Selling
In related news, VP Rhonda J. Morris sold 19,666 shares of the business's stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares of the company's stock, valued at $674,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.
Chevron Stock Performance
Shares of CVX opened at $156.06 on Friday. The company has a 50-day simple moving average of $167.05 and a two-hundred day simple moving average of $169.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. The firm has a market capitalization of $297.55 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16. Chevron Co. has a one year low of $132.54 and a one year high of $189.68.
Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing analysts' consensus estimates of $4.16 by ($0.07). The firm had revenue of $56.47 billion during the quarter, compared to analysts' expectations of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.56 EPS. On average, analysts anticipate that Chevron Co. will post 14.73 EPS for the current fiscal year.
Chevron announced that its board has authorized a stock repurchase program on Wednesday, January 25th that authorizes the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 21.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a $1.51 dividend. The ex-dividend date was Wednesday, February 15th. This is an increase from Chevron's previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.87%. Chevron's dividend payout ratio is currently 33.04%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CVX. Barclays upped their price objective on shares of Chevron from $196.00 to $212.00 and gave the company an "overweight" rating in a research note on Tuesday, January 3rd. Morgan Stanley decreased their price objective on Chevron from $197.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, January 30th. StockNews.com started coverage on Chevron in a report on Thursday, March 16th. They set a "hold" rating for the company. Wells Fargo & Company decreased their price target on Chevron from $204.00 to $199.00 and set an "overweight" rating on the stock in a research note on Thursday, March 2nd. Finally, HSBC increased their price objective on Chevron to $187.00 in a research note on Friday, December 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus price target of $189.50.
About Chevron
(Get Rating)
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- MarketBeat Week in Review – 3/20 – 3/24
- Dividend King Genuine Parts Company Upgraded On Profit Guidance
- The Bottom Is In For Accenture
- 11 Best Consumer Discretionary Stocks of 2023
- 5 Best Dividend Capture Stocks
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.