Gamco Investors INC. ET AL decreased its position in shares of Chevron Co. (NYSE:CVX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,505 shares of the company’s stock after selling 3,164 shares during the period. Gamco Investors INC. ET AL’s holdings in Chevron were worth $6,768,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Solaris Asset Management LLC raised its stake in Chevron by 42.6% in the third quarter. Solaris Asset Management LLC now owns 1,005 shares of the company’s stock worth $103,000 after buying an additional 300 shares in the last quarter. Winfield Associates Inc. raised its stake in Chevron by 1.5% in the third quarter. Winfield Associates Inc. now owns 1,151 shares of the company’s stock worth $118,000 after buying an additional 17 shares in the last quarter. TLP Group LLC purchased a new stake in Chevron during the third quarter worth $130,000. Mascoma Wealth Management LLC purchased a new stake in Chevron during the fourth quarter worth $131,000. Finally, Fusion Family Wealth LLC purchased a new stake in Chevron during the fourth quarter worth $160,000. 62.50% of the stock is owned by institutional investors.
Shares of Chevron Co. (NYSE:CVX) opened at 107.99 on Friday. The company’s 50-day moving average is $110.84 and its 200 day moving average is $109.25. The company’s market capitalization is $204.44 billion. Chevron Co. has a 12 month low of $92.43 and a 12 month high of $119.00.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 27th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.42. The firm had revenue of $31.50 billion for the quarter, compared to analysts’ expectations of $35.24 billion. Chevron had a negative net margin of 0.43% and a positive return on equity of 1.26%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) earnings per share. On average, equities research analysts anticipate that Chevron Co. will post $4.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Tuesday, February 14th. Chevron’s payout ratio is -1,600.00%.
CVX has been the subject of a number of analyst reports. TheStreet upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, December 21st. JPMorgan Chase & Co. restated an “overweight” rating on shares of Chevron in a research note on Monday, December 12th. Vetr upgraded shares of Chevron from a “strong sell” rating to a “sell” rating and set a $102.56 price objective for the company in a research note on Tuesday, January 10th. Jefferies Group LLC raised their price objective on shares of Chevron from $141.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Finally, Wells Fargo & Co restated a “market perform” rating on shares of Chevron in a research note on Sunday, January 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. Chevron currently has an average rating of “Buy” and an average target price of $119.30.
In other Chevron news, insider Pierre R. Breber sold 45,000 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $111.80, for a total transaction of $5,031,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.
Chevron Company Profile
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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