North Star Investment Management Corp. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 8.6% in the fourth quarter, HoldingsChannel reports. The firm owned 18,226 shares of the oil and gas company’s stock after purchasing an additional 1,441 shares during the quarter. North Star Investment Management Corp.’s holdings in Chevron were worth $2,282,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathstone Family Office LLC increased its stake in Chevron by 2.5% during the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after purchasing an additional 20 shares in the last quarter. Accurate Investment Solutions Inc. increased its stake in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares in the last quarter. Ffcm LLC increased its stake in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 822 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new stake in Chevron during the 2nd quarter worth approximately $160,000. 64.02% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday. Credit Suisse Group reduced their price target on Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research report on Thursday, January 11th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $113.61 to $138.00 in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Finally, Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment 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. Chevron presently has an average rating of “Buy” and an average price target of $130.00.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. analysts forecast that Chevron Co. will post 6.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is presently 92.37%.
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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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