Birmingham Capital Management Co. Inc. AL lowered its position in Chevron Co. (NYSE:CVX) by 12.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 61,230 shares of the company’s stock after selling 9,005 shares during the period. Chevron accounts for approximately 2.8% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 6th largest position. Birmingham Capital Management Co. Inc. AL’s holdings in Chevron were worth $6,419,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CVX. Emerald Acquisition Ltd. bought a new stake in Chevron during the second quarter valued at approximately $227,457,000. State Street Corp boosted its stake in Chevron by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock valued at $10,513,045,000 after buying an additional 1,318,854 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Chevron by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 49,644,363 shares of the company’s stock valued at $4,736,072,000 after buying an additional 987,259 shares in the last quarter. Standard Life Investments LTD boosted its stake in Chevron by 244.4% in the second quarter. Standard Life Investments LTD now owns 1,342,463 shares of the company’s stock valued at $140,723,000 after buying an additional 952,718 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Chevron by 30.6% in the first quarter. Fisher Asset Management LLC now owns 3,637,927 shares of the company’s stock valued at $353,716,000 after buying an additional 851,977 shares in the last quarter. 62.24% of the stock is currently owned by institutional investors.
Shares of Chevron Co. (NYSE:CVX) traded down 0.6025% during trading on Monday, reaching $102.2999. 2,455,024 shares of the company’s stock traded hands. The company’s 50-day moving average is $101.06 and its 200 day moving average is $100.84. The company’s market cap is $192.99 billion. Chevron Co. has a 52-week low of $75.33 and a 52-week high of $107.58.
Chevron (NYSE:CVX) last posted its earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of $0.32 by $1.10. The business earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Chevron had a positive return on equity of 1.07% and a negative net margin of 0.64%. Chevron’s revenue for the quarter was down 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts forecast that Chevron Co. will post $1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were paid a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.19%. Chevron’s payout ratio is -1,097.44%.
Several equities research analysts recently commented on CVX shares. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $107.24 price objective on the stock in a research report on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Tuesday, July 12th. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 price target on shares of Chevron in a research note on Thursday, July 28th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $85.00 price target on shares of Chevron in a research note on Wednesday, June 8th. Eleven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $105.53.
In other news, insider Jeanette L. Ourada sold 7,000 shares of Chevron stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $101.70, for a total value of $711,900.00. Following the completion of the transaction, the insider now owns 7,535 shares in the company, valued at $766,309.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Inge G. Thulin bought 487 shares of Chevron stock in a transaction dated Monday, August 15th. The stock was acquired at an average price of $102.87 per share, with a total value of $50,097.69. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by insiders.
Chevron Company Profile
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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