Sterling Investment Management Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,299 shares of the company’s stock after selling 541 shares during the period. Chevron accounts for about 1.5% of Sterling Investment Management Inc.’s investment portfolio, making the stock its 28th largest position. Sterling Investment Management Inc.’s holdings in Chevron were worth $1,264,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Gradient Investments LLC raised its stake in shares of Chevron by 2.1% in the first quarter. Gradient Investments LLC now owns 49,521 shares of the company’s stock worth $4,724,000 after buying an additional 1,023 shares in the last quarter. Tufton Capital Management raised its stake in shares of Chevron by 0.7% in the first quarter. Tufton Capital Management now owns 72,158 shares of the company’s stock worth $6,884,000 after buying an additional 537 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd raised its stake in shares of Chevron by 5.7% in the first quarter. Osborn Rohs Williams & Donohoe Ltd now owns 85,340 shares of the company’s stock worth $8,141,000 after buying an additional 4,622 shares in the last quarter. Sit Investment Associates Inc. raised its stake in shares of Chevron by 9.9% in the first quarter. Sit Investment Associates Inc. now owns 7,245 shares of the company’s stock worth $691,000 after buying an additional 650 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Chevron by 8.6% in the first quarter. Acadian Asset Management LLC now owns 19,827 shares of the company’s stock worth $1,891,000 after buying an additional 1,564 shares in the last quarter. 62.24% of the stock is owned by institutional investors.
Shares of Chevron Co. (NYSE:CVX) traded down 0.6025% during mid-day trading on Monday, hitting $102.2999. 2,455,024 shares of the company traded hands. The firm has a 50-day moving average of $101.06 and a 200-day moving average of $100.84. The stock’s market capitalization is $192.99 billion. Chevron Co. has a one year low of $75.33 and a one year high of $107.58.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. Chevron had a negative net margin of 0.64% and a positive return on equity of 1.07%. The business earned $29.28 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period last year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was down 27.4% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post $1.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were issued a $1.07 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.19%. Chevron’s dividend payout ratio is currently -1,097.44%.
CVX has been the subject of a number of research reports. Morgan Stanley reissued a “hold” rating and issued a $85.00 price target on shares of Chevron in a report on Wednesday, June 8th. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $106.39 price target for the company. in a report on Monday, June 20th. Jefferies Group reissued a “buy” rating and issued a $116.00 price target (up previously from $114.00) on shares of Chevron in a report on Wednesday, July 6th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a report on Tuesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 price objective on shares of Chevron in a research note on Thursday, July 28th. 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 stock. Chevron currently has an average rating of “Buy” and a consensus price target of $105.53.
In other news, insider Michael K. Wirth sold 125,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.47, for a total value of $12,558,750.00. Following the completion of the sale, the insider now owns 4,222 shares in the company, valued at $424,184.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pierre R. Breber sold 21,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $98.77, for a total transaction of $2,074,170.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
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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