AGF Investments Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.2% in the 3rd quarter, Holdings Channel reports. The fund owned 56,491 shares of the oil and gas company’s stock after selling 1,858 shares during the quarter. AGF Investments Inc.’s holdings in Chevron were worth $6,638,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CVX. Pathstone Family Office LLC grew its stake in shares of Chevron by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Chevron in the second quarter valued at $106,000. Winfield Associates Inc. boosted its holdings in Chevron by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares during the period. Accurate Investment Solutions Inc. boosted its holdings in Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the period. Finally, Acrospire Investment Management LLC boosted its holdings in Chevron by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the period. 64.06% of the stock is owned by institutional investors.
In other news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The disclosure for this sale can be found here. Insiders sold a total of 287,271 shares of company stock valued at $33,335,800 over the last three months. Company insiders own 0.38% of the company’s stock.
Chevron (NYSE:CVX) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. sell-side analysts predict that Chevron Co. will post 6.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.95%. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s payout ratio is 89.26%.
A number of research analysts recently issued reports on CVX shares. Morgan Stanley lifted their target price on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Citigroup lifted their target price on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Wolfe Research upgraded Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, October 16th. Finally, Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $134.35 target price for the company in a report on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and a consensus price target of $130.30.
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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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