Syntal Capital Partners LLC increased its holdings in Chevron Co. (NYSE:CVX) by 344.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,493 shares of the oil and gas company’s stock after buying an additional 16,657 shares during the quarter. Chevron comprises 0.8% of Syntal Capital Partners LLC’s portfolio, making the stock its 18th largest holding. Syntal Capital Partners LLC’s holdings in Chevron were worth $2,690,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Valley National Advisers Inc. grew its holdings in Chevron by 0.4% in the 2nd quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after buying an additional 11 shares in the last quarter. Deschutes Portfolio Strategy LLC boosted its stake in Chevron by 0.5% during the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 13 shares in the last quarter. Regis Management CO LLC boosted its stake in Chevron by 0.4% during the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 14 shares in the last quarter. Keel Point LLC boosted its stake in Chevron by 0.5% during the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 14 shares in the last quarter. Finally, FCG Advisors LLC boosted its stake in Chevron by 0.4% during the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after purchasing an additional 15 shares in the last quarter. 64.96% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CVX. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. Credit Suisse Group began coverage on Chevron in a research note on Monday, December 11th. They set a “neutral” rating and a $123.00 price target for the company. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Wednesday, December 27th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating in a research note on Friday, February 23rd. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $130.00.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. Chevron’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. research analysts anticipate that Chevron Co. will post 6.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.12 dividend. The ex-dividend date was Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is presently 92.37%.
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Chevron Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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