Virtu Financial LLC boosted its position in Chevron Co. (NYSE:CVX) by 30.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,668 shares of the oil and gas company’s stock after buying an additional 5,488 shares during the quarter. Virtu Financial LLC’s holdings in Chevron were worth $2,575,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Highwater Wealth Management LLC acquired a new position in shares of Chevron during the 4th quarter worth $51,000. Arlington Partners LLC increased its holdings in Chevron by 237.2% in the 4th quarter. Arlington Partners LLC now owns 853 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 600 shares in the last quarter. Canton Hathaway LLC acquired a new position in Chevron in the 3rd quarter worth about $141,000. Signature Estate & Investment Advisors LLC acquired a new position in Chevron in the 3rd quarter worth about $144,000. Finally, O Brien Wealth Partners LLC increased its holdings in Chevron by 4,389.3% in the 3rd quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 1,229 shares in the last quarter. 66.07% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. Cowen reaffirmed a “buy” rating and issued a $142.00 target price on shares of Chevron in a report on Wednesday, April 17th. Citigroup upped their target price on Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Friday, April 12th. Morgan Stanley began coverage on Chevron in a report on Friday, April 12th. They issued an “overweight” rating and a $150.00 price target on the stock. Finally, Royal Bank of Canada upgraded Chevron to a “sector perform” rating and set a $145.00 price target on the stock in a report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $136.10.
Shares of CVX traded down $3.74 on Wednesday, reaching $118.28. 21,766,632 shares of the company’s stock traded hands, compared to its average volume of 7,017,010. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $228.30 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 3.48 and a beta of 1.03. Chevron Co. has a 52-week low of $100.22 and a 52-week high of $131.08.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 1st. The oil and gas company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.08. The company had revenue of $42.35 billion during the quarter, compared to the consensus estimate of $41.46 billion. Chevron had a return on equity of 9.78% and a net margin of 8.91%. Chevron’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 6.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.02%. Chevron’s payout ratio is 57.70%.
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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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