Oliver Luxxe Assets LLC Has $4.19 Million Position in Chevron Co. (CVX)
Oliver Luxxe Assets LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,455 shares of the oil and gas company’s stock after buying an additional 638 shares during the quarter. Chevron accounts for about 2.5% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 11th largest holding. Oliver Luxxe Assets LLC’s holdings in Chevron were worth $4,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of CVX. Acrospire Investment Management LLC boosted its holdings in shares of Chevron by 133.3% in the 2nd 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 in the last quarter. Accurate Investment Solutions Inc. boosted its holdings in shares of Chevron by 59.1% in the 3rd 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 in the last quarter. Ffcm LLC boosted its holdings in shares of Chevron by 121.1% in the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 822 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Chevron in the 2nd quarter valued at $160,000. Finally, Intellectus Partners LLC boosted its holdings in shares of Chevron by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 15 shares in the last quarter. 65.04% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Credit Suisse Group reduced their target price on Chevron from $129.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, March 7th. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a report on Thursday, January 11th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $113.61 to $138.00 in a 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 report on Friday, February 2nd. One 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 currently has a consensus rating of “Buy” and an average target price of $130.00.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. equities research analysts anticipate that Chevron Co. will post 6.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.12 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 92.37%.
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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