Monument Capital Management makes a new investment in Chevron Co. (NYSE: CVX)


Monument Capital Management has acquired a new position in the shares of Chevron Co. (NYSE: CVX – Get Rating) in the first quarter, reports Holdings Channel.com. The institutional investor acquired 20,505 shares of the oil and gas company worth approximately $ 3,339,000. Chevron represents approximately 1.1% of Monument Capital Management’s investment portfolio, making the shares the 18th largest position.

A number of other institutional investors and hedge funds have also recently changed holdings in CVX. Rational Advisors LLC increased its stake in Chevron by 116.3% in the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company worth $ 26,000 after acquiring an additional 121 shares in the last quarter. Curi Wealth Management LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $ 30,000. Byrne Asset Management LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $ 36,000. West Bancorporation Inc. bought a new position in Chevron shares in the fourth quarter worth approximately $ 37,000. Finally, Horan Securities Inc. bought a new position in Chevron shares in the fourth quarter worth approximately $ 37,000. 65.89% of the shares are owned by hedge funds and other institutional investors.

Several research firms have recently released reports on CVX. Cowen raised his target price for Chevron from $ 165.00 to $ 179.00 and gave the company a rating of “superior” in a report on Tuesday, June 7. UBS Group raised its price target for Chevron from $ 150.00 to $ 192.00 and gave the company a “buy” rating in a research note on Tuesday, April 5th. Morgan Stanley lowered its price target for Chevron from $ 188.00 to $ 185.00 and set an “equal weight” rating for the shares in a research note on Monday, June 6. BMO Capital Markets raised its price target for Chevron from $ 140.00 to $ 170.00 in a research note on Wednesday, March 2. Finally, Raymond James raised his Chevron price target from $ 173.00 to $ 191.00 and gave the company a “superior” rating in a research note on Monday, April 18th. One research analyst rated the stock with a sell rating, eight issued a hold rating and fifteen gave a stock buy rating. According to MarketBeat.com, the company has a consensus “Moderate Buying” rating and an average target price of $ 169.57.

Shares of CVX opened at $ 144.77 on Friday. The company has a debt to equity ratio of 0.20, a fast ratio of 1.22 and a current ratio of 1.43. Chevron Co. has a 52-week low of $ 92.86 and a 52-week high of $ 182.40. The company has a market capitalization of $ 284.45 billion, a PE ratio of 13.61, a price-earnings-growth ratio of 0.63 and a beta of 1.09. The 50-day moving average for the business is $ 166.29, and its 200-day moving average is $ 150.04.

Chevron (NYSE: CVX – Get Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share (EPS) for the quarter, lacking analysts’ consensus estimates of $ 3.44 ($ 0.08). Chevron had a return on equity of 14.66% and a net profit of 11.10%. The business had revenue of $ 54.37 billion in the quarter, compared to analysts’ expectations of $ 54.96 billion. In the same quarter last year, the business reported $ 0.90 EPS. The company’s quarterly revenues increased by 69.8% on an annual basis. On average, sales analysts predict that Chevron Co. will report 17.5 EPS for the current fiscal year.

The company also recently unveiled a three-month dividend that was paid on Friday (June 10th). The record investors on Thursday, May 19, received a dividend of $ 1.42. The date of the former dividend of this dividend was Wednesday, May 18. This represents a dividend of $ 5.68 on an annual basis and a dividend yield of 3.92%. Chevron’s dividend payout ratio (DPR) is currently 53.38%.

In related news, director Wanda M. Austin sold 12,039 shares of shares in a deal on Friday, May 27th. The shares were sold at an average price of $ 177.29, for a total value of $ 2,134,394.31. Following the deal, the director now owns 3,543 shares of the company’s stock worth $ 628,138.47. The transaction is disclosed in legal documentation in the SEC, which can be accessed through this hyperlink. Also, VP Eimear P. Bonner sold 478 shares of the shares in a deal on Friday, May 6th. The shares were sold at an average price of $ 169.21, for a total value of $ 80,882.38. Following the transaction, the vice president now directly owns 358 shares in the company worth approximately $ 60,577.18. The disclosure for this sale can be found here. In the last quarter, Insiders sold 561,726 shares of the company worth $ 94,057,396. 0.32% of the shares are currently owned by insiders of the company.

Company profile Chevron (Get a rating)

Chevron Corporation, through its subsidiaries, is involved in integrated energy and chemical operations around the world. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production and transportation of crude oil and natural gas; processing, liquefaction, transportation and regasification related to liquefied natural gas; transportation of crude oil by pipelines; and transportation, storage and marketing of natural gas, and operates a liquid gas processing plant.

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Quarterly Institutional Property for Chevron (NYSE: CVX)



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