Ropes Wealth Advisors LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,133 shares of the oil and gas company’s stock after selling 524 shares during the quarter. Chevron comprises 1.3% of Ropes Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Ropes Wealth Advisors LLC’s holdings in Chevron were worth $5,152,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Canton Hathaway LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $141,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $144,000. O Brien Wealth Partners LLC increased its stake in shares of Chevron by 4,389.3% during the third quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 1,229 shares during the period. Atlantic Trust LLC increased its stake in shares of Chevron by 54.7% during the second quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 520 shares during the period. Finally, Shine Investment Advisory Services Inc. increased its stake in shares of Chevron by 45.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 462 shares during the period. Hedge funds and other institutional investors own 67.51% of the company’s stock.
Several equities analysts have recently issued reports on the company. Credit Suisse Group set a $135.00 target price on Chevron and gave the company a “buy” rating in a research note on Saturday, February 2nd. Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 29th. UBS Group upgraded Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price target on the stock in a research report on Friday, January 18th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $136.00 to $122.00 in a research report on Monday, January 14th. Finally, Royal Bank of Canada restated a “hold” rating and set a $130.00 price target on shares of Chevron in a research report on Monday, January 7th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and an average price target of $133.20.
Chevron stock traded up $0.85 during mid-day trading on Wednesday, hitting $119.57. The company had a trading volume of 5,934,900 shares, compared to its average volume of 6,636,887. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $131.08. The company has a market capitalization of $226.85 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 1st. The oil and gas company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.08. The business had revenue of $42.35 billion for the quarter, compared to the consensus estimate of $41.46 billion. Chevron had a return on equity of 9.82% and a net margin of 8.91%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. On average, equities research analysts predict that Chevron Co. will post 6.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be issued a dividend of $1.19 per share. This is an increase from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, February 14th. Chevron’s dividend payout ratio is presently 54.30%.
In related news, insider James William Johnson sold 9,500 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $118.59, for a total transaction of $1,126,605.00. Following the completion of the sale, the insider now owns 9,500 shares in the company, valued at $1,126,605. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeanette L. Ourada sold 7,200 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now owns 7,200 shares of the company’s stock, valued at approximately $838,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,200 shares of company stock worth $3,072,725. Corporate insiders own 0.46% of the company’s stock.
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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