Viking Fund Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 42.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,800 shares of the oil and gas company’s stock after selling 10,200 shares during the period. Viking Fund Management LLC’s holdings in Chevron were worth $1,501,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. CKW Financial Group grew its stake in Chevron by 123.5% in the 4th quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Highwater Wealth Management LLC purchased a new position in Chevron in the 4th quarter valued at about $51,000. Ironwood Financial llc lifted its holdings in Chevron by 94.2% in the 4th quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 261 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Chevron in the 4th quarter valued at about $84,000. Finally, Arlington Partners LLC lifted 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 valued at $93,000 after purchasing an additional 600 shares in the last quarter. 65.93% of the stock is owned by institutional investors.
In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $125.60, for a total value of $596,600.00. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $596,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.13. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The company had revenue of $35.20 billion during the quarter, compared to the consensus estimate of $38.42 billion. During the same quarter last year, the company earned $1.90 earnings per share. Chevron’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 7.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 57.70%.
A number of research analysts have issued reports on CVX shares. Royal Bank of Canada upgraded shares of Chevron to a “sector perform” rating and set a $145.00 target price on the stock in a report on Wednesday, March 6th. UBS Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price objective on the stock in a report on Friday, January 18th. Credit Suisse Group reiterated a “buy” rating and set a $130.00 price objective on shares of Chevron in a report on Wednesday, January 23rd. Mizuho reiterated a “buy” rating and set a $140.00 price objective on shares of Chevron in a report on Wednesday, March 6th. Finally, Tudor Pickering started coverage on shares of Chevron in a report on Friday, March 1st. They set a “buy” rating and a $133.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $135.84.
Chevron Company Profile
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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