Cribstone Capital Management LLC reduced its position in shares of Chevron Corp. (NYSE:CVX) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 3,393 shares of the company’s stock after selling 20 shares during the period. Cribstone Capital Management LLC’s holdings in Chevron Corp. were worth $356,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Searle & CO. boosted its position in shares of Chevron Corp. by 4.3% in the first quarter. Searle & CO. now owns 7,240 shares of the company’s stock worth $682,000 after buying an additional 300 shares during the period. Heritage Investors Management Corp boosted its position in shares of Chevron Corp. by 3.0% in the first quarter. Heritage Investors Management Corp now owns 145,675 shares of the company’s stock worth $13,897,000 after buying an additional 4,207 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of Chevron Corp. by 22.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 17,273 shares of the company’s stock worth $1,648,000 after buying an additional 3,149 shares during the period. Gradient Investments LLC boosted its position in shares of Chevron Corp. 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 during the period. Finally, Tufton Capital Management boosted its position in shares of Chevron Corp. 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 during the period. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.63% during midday trading on Friday, reaching $102.92. 9,431,524 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $101.06 and a 200-day moving average of $100.84. The company’s market capitalization is $194.16 billion. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s revenue was down 27.4% compared to the same quarter last year. Equities analysts expect that Chevron Corp. will post $1.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a dividend of $1.07 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a yield of 4.16%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
A number of brokerages have weighed in on CVX. Vetr cut shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target on the stock. in a research report on Monday, June 20th. Zacks Investment Research cut shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Morgan Stanley reissued a “hold” rating and set a $85.00 target price on shares of Chevron Corp. in a research report on Wednesday, June 8th. Finally, Jefferies Group reissued a “buy” rating and set a $116.00 target price (up from $114.00) on shares of Chevron Corp. in a research report on Wednesday, July 6th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Chevron Corp. has a consensus rating of “Buy” and an average price target of $105.53.
In other Chevron Corp. news, insider Pierre R. Breber sold 21,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total transaction of $2,074,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael K. Wirth sold 125,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $100.47, for a total value of $12,558,750.00. Following the transaction, the insider now owns 4,222 shares of the company’s stock, valued at $424,184.34. The disclosure for this sale can be found here. Company 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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