Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Chevron Co. (NYSE:CVX – Get Rating) by 4.3% in Q1, HoldingsChannel reports. The fund held 387,787 shares of the oil and gas company after buying an additional 15,915 shares during the quarter. Chevron accounts for about 1.3% of Sumitomo Mitsui DS Asset Management Company Ltd holdings, making the stock its 12th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chevron were worth $63,143,000 when it last filed with the SEC.
A number of other institutional investors also changed their holdings in CVX. Burt Wealth Advisors bought a new position in Chevron stock during the first quarter worth $205,000. PFG Advisors increased its position in Chevron shares by 17.2% during the first quarter. PFG Advisors now owns 17,627 shares of the oil and gas company worth $2,871,000 after purchasing an additional 2,586 shares during the period. Clarity Financial LLC increased its stake in Chevron shares by 2.2% in the first quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company valued at $454,000 after acquiring 61 additional shares last quarter. Carmel Capital Partners LLC increased its stake in Chevron shares by 4.6% in the first quarter. Carmel Capital Partners LLC now owns 2,179 shares of the oil and gas company valued at $355,000 after acquiring 95 additional shares last quarter. Finally, Wealth Alliance Advisory Group LLC increased its stake in Chevron shares by 10.5% in the first quarter. Wealth Alliance Advisory Group LLC now owns 17,659 shares of the oil and gas company valued at $2,875,000 after acquiring 1,675 additional shares last quarter. Institutional investors hold 65.89% of the company’s shares.
Shares of CVX opened at $146.51 on Friday. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The stock’s 50-day moving average is $164.13 and its two-hundred-day moving average is $150.85. The company has a market capitalization of $287.86 billion, a PE ratio of 13.77, a P/E/G ratio of 0.63 and a beta of 1.09. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt ratio of 0.20.
Chevron (NYSE:CVX – Get Rating) last reported quarterly earnings data on Friday, April 29. The oil and gas company reported earnings per share of $3.36 for the quarter, missing consensus analyst estimates of $3.44 per ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company posted revenue of $54.37 billion in the quarter, compared to $54.96 billion expected by analysts. During the same period of the previous year, the company posted EPS of $0.90. Chevron’s revenue for the quarter increased 69.8% over the same quarter last year. On average, sell-side analysts expect Chevron Co. to post 17.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Thursday, May 19 received a dividend of $1.42. This represents a dividend of $5.68 on an annualized basis and a yield of 3.88%. The ex-dividend date was Wednesday, May 18. Chevron’s dividend payout ratio is currently 53.38%.
In other news, Executive Vice Chairman James William Johnson sold 55,600 shares of the company in a deal that took place on Wednesday, May 4. The stock was sold at an average price of $165.94, for a total transaction of $9,226,264.00. Following the sale, the executive vice president now owns 1,243 shares of the company, valued at approximately $206,263.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, insider David A. Inchausti sold 4,700 shares of the company in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $161.09, for a total value of $757,123.00. The disclosure of this sale can be found here. Insiders sold a total of 561,726 shares of the company worth $94,057,396 in the past three months. Company insiders own 0.32% of the company’s shares.
Several brokerages have recently released reports on CVX. Cowen cut his price target on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday. Societe Generale downgraded Chevron from a “buy” to a “hold” rating and set a price target of $175.00 for the stock. in a Friday May 20 research note. Royal Bank of Canada downgraded Chevron from an “outperform” rating to an “sector performer” rating and raised its price target for the company from $160.00 to $165.00 in a memo. research on Thursday, April 21. Barclays raised its price target on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a Tuesday, May 31 research note. Finally, UBS Group raised its price target on Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a Tuesday, April 5 research note. One research analyst rated the stock with a sell rating, eight gave the company’s stock a hold rating and fifteen gave the company’s stock a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $167.24.
Herringbone profile (Get an evaluation)
Chevron Corporation, through its subsidiaries, has integrated energy and chemical businesses 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 by pipelines; and the transportation, storage and marketing of natural gas, as well as the operation of a gas-to-liquids plant.
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