Edgestream Partners L.P. Takes Position in Chevron Co. (CVX)
Edgestream Partners L.P. acquired a new stake in Chevron Co. (NYSE:CVX) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 10,191 shares of the oil and gas company’s stock, valued at approximately $1,246,000.
Several other institutional investors and hedge funds have also modified their holdings of CVX. Charles Schwab Investment Advisory Inc. acquired a new position in Chevron during the 2nd quarter worth approximately $413,622,000. Standard Life Aberdeen plc boosted its position in Chevron by 78.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock worth $858,547,000 after acquiring an additional 2,994,612 shares during the last quarter. Millennium Management LLC boosted its position in Chevron by 478.5% during the 2nd quarter. Millennium Management LLC now owns 2,015,778 shares of the oil and gas company’s stock worth $254,855,000 after acquiring an additional 1,667,339 shares during the last quarter. PointState Capital LP acquired a new position in Chevron during the 2nd quarter worth approximately $208,402,000. Finally, Investec Asset Management LTD acquired a new position in Chevron during the 2nd quarter worth approximately $143,820,000. Institutional investors and hedge funds own 64.62% of the company’s stock.
In other news, EVP James William Johnson sold 4,750 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $120.92, for a total transaction of $574,370.00. Following the sale, the executive vice president now owns 4,750 shares in the company, valued at approximately $574,370. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeanette L. Ourada sold 7,200 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now owns 7,200 shares in the company, valued at approximately $838,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,200 shares of company stock worth $3,072,725. Company insiders own 0.46% of the company’s stock.
Shares of Chevron stock opened at $118.23 on Friday. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $131.08. The company has a market cap of $227.15 billion, a PE ratio of 14.33, a P/E/G ratio of 4.11 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Chevron had a return on equity of 9.82% and a net margin of 8.91%. The company had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 6.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be paid a dividend of $1.19 per share. The ex-dividend date is Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from Chevron’s previous quarterly dividend of $1.12. Chevron’s dividend payout ratio is currently 54.30%.
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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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