Tdam USA Inc. decreased its stake in shares of Chevron Corp. (NYSE:CVX) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,407 shares of the company’s stock after selling 2,825 shares during the period. Tdam USA Inc.’s holdings in Chevron Corp. were worth $12,622,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in CVX. Emerald Acquisition Ltd. bought a new position in Chevron Corp. during the second quarter valued at $227,457,000. State Street Corp boosted its position in shares of Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock worth $10,513,045,000 after buying an additional 1,318,854 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Chevron Corp. by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 49,644,363 shares of the company’s stock worth $4,736,072,000 after buying an additional 987,259 shares during the last quarter. Standard Life Investments LTD boosted its position in shares of Chevron Corp. by 244.4% in the second quarter. Standard Life Investments LTD now owns 1,342,463 shares of the company’s stock worth $140,723,000 after buying an additional 952,718 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Chevron Corp. by 30.6% in the first quarter. Fisher Asset Management LLC now owns 3,637,927 shares of the company’s stock worth $353,716,000 after buying an additional 851,977 shares during the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 0.87% during trading on Wednesday, reaching $102.15. 2,482,213 shares of the company’s stock were exchanged. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The stock has a 50-day moving average price of $101.02 and a 200 day moving average price of $100.99. The firm’s market capitalization is $192.71 billion.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. The business had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The business’s revenue was down 27.4% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. Equities research analysts forecast that Chevron Corp. will post $1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.07 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.23%. Chevron Corp.’s dividend payout ratio (DPR) is presently -1,097.44%.
Several equities research analysts have recently issued reports on CVX shares. Vetr lowered shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 target price for the company. in a report on Monday, June 27th. Zacks Investment Research lowered shares of Chevron Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group AG restated a “neutral” rating and issued a $105.00 target price on shares of Chevron Corp. in a report on Saturday, August 13th. Morgan Stanley reiterated a “hold” rating and set a $85.00 price objective on shares of Chevron Corp. in a report on Wednesday, June 8th. Finally, Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $105.53.
In other news, insider Pierre R. Breber sold 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $98.77, for a total transaction of $2,074,170.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the transaction, the insider now owns 4,222 shares in the company, valued at $424,184.34. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
About Chevron Corp.
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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