Magnolia Capital Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,264 shares of the oil and gas company’s stock, valued at approximately $1,236,000. Chevron comprises 1.2% of Magnolia Capital Advisors LLC’s holdings, making the stock its 19th largest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sailer Financial LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $25,000. Filbrandt Wealth Management LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $25,000. Roffman Miller Associates Inc. PA purchased a new position in shares of Chevron in the 4th quarter valued at about $27,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Price Wealth LLC increased its stake in shares of Chevron by 105.8% in the 4th quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.
In other news, Director John Frank purchased 1,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $96.59 per share, for a total transaction of $96,590.00. Following the completion of the purchase, the director now directly owns 5,114 shares of the company’s stock, valued at $493,961.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 67,500 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $121.07, for a total value of $8,172,225.00. Following the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.02. Chevron had a return on equity of 8.29% and a net margin of 2.00%. The company had revenue of $36.35 billion for the quarter, compared to analysts’ expectations of $38.98 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm’s revenue was down 14.2% compared to the same quarter last year. Analysts expect that Chevron Co. will post 0.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 7.16%. This is a boost from Chevron’s previous quarterly dividend of $1.19. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is 82.30%.
Several equities research analysts have commented on the company. Citigroup cut their price objective on Chevron from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. UBS Group cut their price objective on Chevron from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Raymond James cut their price objective on Chevron from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Berenberg Bank reiterated a “hold” rating and set a $128.00 price objective on shares of Chevron in a research note on Thursday, December 12th. Finally, Morgan Stanley cut their price objective on Chevron from $137.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $120.21.
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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