Chase Investment Counsel Corp increased its holdings in Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,648 shares of the oil and gas company’s stock after acquiring an additional 102 shares during the quarter. Chase Investment Counsel Corp’s holdings in Chevron were worth $319,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA purchased a new stake in shares of Chevron during the fourth quarter valued at about $27,000. Price Wealth LLC lifted its position in shares of Chevron by 105.8% during the fourth quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 146 shares during the last quarter. Birch Capital Management LLC purchased a new stake in shares of Chevron during the fourth quarter valued at about $45,000. Quantum Capital Management purchased a new stake in shares of Chevron during the third quarter valued at about $51,000. Finally, Lenox Wealth Advisors LLC lifted its position in shares of Chevron by 54.6% during the fourth quarter. Lenox Wealth Advisors LLC now owns 433 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 153 shares during the last quarter. 65.51% of the stock is owned by institutional investors.
In related news, VP Rhonda J. Morris sold 7,800 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total value of $933,504.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 67,500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the completion of the transaction, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.02. The firm had revenue of $36.35 billion during the quarter, compared to analyst estimates of $38.98 billion. Chevron had a net margin of 2.00% and a return on equity of 8.14%. Chevron’s revenue was down 14.2% on a year-over-year basis. During the same period last year, the firm posted $1.95 EPS. As a group, research analysts anticipate that Chevron Co. will post 7.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 18th will be given a $1.29 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.19. This represents a $5.16 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 75.92%.
Several analysts have commented on CVX shares. Credit Suisse Group decreased their price target on shares of Chevron from $135.00 to $128.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Citigroup lowered shares of Chevron from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Cowen decreased their price target on shares of Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Bank of America lowered shares of Chevron from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 7th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a $128.00 price objective on shares of Chevron in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $136.50.
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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