Brightworth boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,965 shares of the oil and gas company’s stock after buying an additional 466 shares during the period. Chevron comprises 1.4% of Brightworth’s investment portfolio, making the stock its 19th largest holding. Brightworth’s holdings in Chevron were worth $6,197,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CKW Financial Group boosted its position in Chevron by 123.5% during the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Highwater Wealth Management LLC bought a new stake in Chevron during the fourth quarter worth approximately $51,000. Ironwood Financial llc boosted its position in Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the period. Tributary Capital Management LLC bought a new stake in Chevron during the fourth quarter worth approximately $84,000. Finally, Arlington Partners LLC boosted its position in Chevron by 237.2% during the fourth quarter. Arlington Partners LLC now owns 853 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 65.44% of the company’s stock.
CVX has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating and set a $142.00 target price on shares of Chevron in a research report on Wednesday, April 17th. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Tudor Pickering began coverage on Chevron in a research report on Friday, March 1st. They issued a “buy” rating and a $133.00 price objective for the company. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Friday, April 12th. Finally, Citigroup increased their price objective on Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $135.42.
In related news, Director Enrique Hernandez, Jr. sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total value of $512,946.00. Following the transaction, the director now owns 15,689 shares in the company, valued at $1,916,097.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $125.60, for a total value of $596,600.00. Following the completion of the transaction, the insider now owns 4,750 shares in the company, valued at approximately $596,600. The disclosure for this sale can be found here. Insiders have sold 11,050 shares of company stock worth $1,365,221 in the last 90 days. Company insiders own 0.31% of the company’s stock.
Chevron stock traded down $0.10 during mid-day trading on Friday, hitting $120.81. 3,212,722 shares of the company were exchanged, compared to its average volume of 7,256,094. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $128.55. The firm has a market capitalization of $230.30 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.43 and a beta of 0.98.
Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.26 by $0.13. The company had revenue of $35.20 billion for the quarter, compared to analysts’ expectations of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, equities research analysts predict that Chevron Co. will post 7.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is presently 57.70%.
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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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