Chevron Co. (CVX) Stake Lifted by Tyers Asset Management LLC
Tyers Asset Management LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,460 shares of the oil and gas company’s stock after acquiring an additional 7,700 shares during the period. Chevron accounts for about 1.3% of Tyers Asset Management LLC’s investment portfolio, making the stock its 13th largest position. Tyers Asset Management LLC’s holdings in Chevron were worth $38,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new position in shares of Chevron in the fourth quarter worth approximately $565,000. Parsons Capital Management Inc. RI grew its position in Chevron by 8.6% during the first quarter. Parsons Capital Management Inc. RI now owns 95,309 shares of the oil and gas company’s stock valued at $10,869,000 after acquiring an additional 7,584 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Chevron during the first quarter valued at approximately $74,364,000. 6 Meridian grew its position in Chevron by 3.2% during the first quarter. 6 Meridian now owns 54,243 shares of the oil and gas company’s stock valued at $6,186,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Staley Capital Advisers Inc. grew its position in Chevron by 4.2% during the first quarter. Staley Capital Advisers Inc. now owns 281,615 shares of the oil and gas company’s stock valued at $32,115,000 after acquiring an additional 11,384 shares during the last quarter. Institutional investors and hedge funds own 64.89% of the company’s stock.
In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $569,857.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.
NYSE:CVX opened at $119.42 on Tuesday. The company has a market cap of $227.50 billion, a PE ratio of 32.28, a P/E/G ratio of 2.06 and a beta of 1.12. Chevron Co. has a fifty-two week low of $107.54 and a fifty-two week high of $133.88. The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The company had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 8.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s payout ratio is 121.08%.
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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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