Lombardia Capital Partners LLC cut its stake in Chevron Corp. (NYSE:CVX) by 82.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,517 shares of the company’s stock after selling 16,019 shares during the period. Lombardia Capital Partners LLC’s holdings in Chevron Corp. were worth $369,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC raised its stake in shares of Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock valued at $101,000 after buying an additional 134 shares during the last quarter. Marshall & Sullivan Inc. WA raised its stake in shares of Chevron Corp. by 4.0% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,825 shares of the company’s stock valued at $174,000 after buying an additional 71 shares during the last quarter. Carnick & Kubik LLC bought a new stake in shares of Chevron Corp. during the first quarter valued at approximately $188,000. Exane Derivatives raised its stake in shares of Chevron Corp. by 57.3% in the first quarter. Exane Derivatives now owns 1,994 shares of the company’s stock valued at $190,000 after buying an additional 726 shares during the last quarter. Finally, Sterling Investment Advisors LLC ADV bought a new stake in shares of Chevron Corp. during the second quarter valued at approximately $203,000. 62.24% of the stock is owned by institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.16% during trading on Thursday, reaching $102.39. 2,302,334 shares of the company’s stock traded hands. The company has a 50 day moving average price of $101.01 and a 200 day moving average price of $101.00. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58. The stock’s market capitalization is $193.16 billion.
Chevron Corp. (NYSE:CVX) last issued its earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (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 firm had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corp. will post $1.29 EPS for the current fiscal 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 dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Wednesday, August 17th. Chevron Corp.’s payout ratio is currently -1,097.44%.
Several brokerages recently commented on CVX. Vetr lowered shares of Chevron Corp. 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. Zacks Investment Research lowered shares of Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Morgan Stanley reaffirmed a “hold” rating and set a $85.00 target price on shares of Chevron Corp. in a report on Wednesday, June 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $116.00 target price (up previously from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock 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 business’s stock in a transaction dated 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 completion of the sale, the insider now owns 4,222 shares in the company, valued at approximately $424,184.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total value of $2,074,170.00. 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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