Greenleaf Trust reduced its stake in Chevron Corporation (NYSE:CVX) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,817 shares of the oil and gas company’s stock after selling 2,080 shares during the quarter. Greenleaf Trust’s holdings in Chevron Corporation were worth $1,129,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. HPM Partners LLC lifted its holdings in Chevron Corporation by 197.0% in the 1st quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 25,691 shares during the last quarter. Lincoln National Corp lifted its holdings in Chevron Corporation by 33.3% in the 1st quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after purchasing an additional 20,615 shares during the last quarter. Strategic Financial Group LLC lifted its holdings in Chevron Corporation by 6.0% in the 1st quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares during the last quarter. Rothschild Investment Corp IL lifted its holdings in Chevron Corporation by 2.3% in the 1st quarter. Rothschild Investment Corp IL now owns 41,232 shares of the oil and gas company’s stock worth $4,427,000 after purchasing an additional 919 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Chevron Corporation by 7.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 504,112 shares of the oil and gas company’s stock worth $54,127,000 after purchasing an additional 36,257 shares during the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.
Several brokerages have commented on CVX. Jefferies Group LLC set a $135.00 price target on Chevron Corporation and gave the stock a “buy” rating in a research report on Saturday, June 24th. Barclays PLC reaffirmed an “overweight” rating and issued a $125.00 price target (up from $116.00) on shares of Chevron Corporation in a research report on Wednesday, July 12th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Chevron Corporation in a research report on Saturday. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Macquarie downgraded Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target on the stock. in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $116.40.
Shares of Chevron Corporation (NYSE:CVX) traded up 0.16% during mid-day trading on Friday, reaching $114.63. The company had a trading volume of 8,387,623 shares. The firm’s 50 day moving average is $109.46 and its 200-day moving average is $107.20. The stock has a market capitalization of $217.22 billion, a P/E ratio of 37.17 and a beta of 1.23. Chevron Corporation has a 12-month low of $97.68 and a 12-month high of $119.00.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same quarter last year, the company earned ($0.78) EPS. The company’s revenue was up 17.8% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.77%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the transaction, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,312 shares of company stock worth $8,008,343. Corporate insiders own 0.38% of the company’s stock.
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About Chevron Corporation
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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