Patten & Patten Inc. TN raised its position in shares of Chevron Co. (NYSE:CVX) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,890 shares of the oil and gas company’s stock after buying an additional 1,360 shares during the quarter. Patten & Patten Inc. TN’s holdings in Chevron were worth $9,000,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CVX. Beach Investment Management LLC. acquired a new position in shares of Chevron during the second quarter valued at about $2,588,000. KBC Group NV increased its holdings in shares of Chevron by 3.1% during the second quarter. KBC Group NV now owns 793,298 shares of the oil and gas company’s stock valued at $82,764,000 after acquiring an additional 24,093 shares in the last quarter. Pegasus Partners Ltd. increased its holdings in shares of Chevron by 1.8% during the second quarter. Pegasus Partners Ltd. now owns 11,317 shares of the oil and gas company’s stock valued at $1,181,000 after acquiring an additional 195 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Chevron by 5.7% during the second quarter. Blair William & Co. IL now owns 344,315 shares of the oil and gas company’s stock valued at $35,922,000 after acquiring an additional 18,546 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. increased its holdings in Chevron by 2.6% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 235,017 shares of the oil and gas company’s stock worth $24,519,000 after buying an additional 5,991 shares during the period. 64.96% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on CVX shares. Vetr downgraded shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target on the stock. in a report on Monday, February 26th. Royal Bank of Canada set a $110.00 price target on shares of Chevron and gave the stock a “sell” rating in a report on Wednesday, December 20th. Wells Fargo cut their price target on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $129.79.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. Chevron’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. research analysts forecast that Chevron Co. will post 6.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.12 per share. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is presently 92.37%.
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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