Robshaw & Julian Associates Inc. reduced its position in shares of Chevron Corp. (NYSE:CVX) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 67,776 shares of the company’s stock after selling 1,385 shares during the period. Chevron Corp. makes up about 5.4% of Robshaw & Julian Associates Inc.’s investment portfolio, making the stock its largest position. Robshaw & Julian Associates Inc.’s holdings in Chevron Corp. were worth $7,105,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CVX. CHURCHILL MANAGEMENT Corp purchased a new position in Chevron Corp. during the second quarter worth $2,118,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Chevron Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,644,631 shares of the company’s stock valued at $172,407,000 after buying an additional 11,249 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Chevron Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 730,403 shares of the company’s stock valued at $69,680,000 after buying an additional 13,100 shares during the last quarter. Societe Generale bought a new stake in shares of Chevron Corp. during the second quarter valued at approximately $66,963,000. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Chevron Corp. during the first quarter valued at approximately $55,733,000. 62.24% of the stock is currently owned by institutional investors and hedge funds.
Chevron Corp. (NYSE:CVX) traded down 0.91% during trading on Tuesday, reaching $101.52. The company’s stock had a trading volume of 2,984,669 shares. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58. The firm’s market capitalization is $191.52 billion. The stock’s 50-day moving average is $101.06 and its 200 day moving average is $100.97.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Zacks’ 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 business had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. The company’s revenue was down 27.4% compared to the same quarter last year. On average, analysts predict that Chevron Corp. will post $1.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders 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 yield of 4.18%. Chevron Corp.’s payout ratio is presently -1,097.44%.
CVX has been the topic of several research analyst reports. Vetr upgraded shares of Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 target price on the stock in a research report on Wednesday, September 28th. JPMorgan Chase & Co. restated an “overweight” rating and set a $117.00 target price on shares of Chevron Corp. in a research report on Monday, September 26th. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 target price on the stock in a research report on Monday. Jefferies Group restated a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Finally, Credit Suisse Group AG restated a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $105.53.
In other Chevron Corp. news, Director Inge G. Thulin acquired 487 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was purchased at an average cost of $102.87 per share, for a total transaction of $50,097.69. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph C. Geagea sold 26,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $102.50, for a total value of $2,665,000.00. Following the sale, the insider now owns 13,000 shares of the company’s stock, valued at $1,332,500. 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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