CI Investments Inc. boosted its stake in shares of Chevron Corp. (NYSE:CVX) by 67.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 902,799 shares of the company’s stock after buying an additional 363,430 shares during the period. Chevron Corp. makes up 1.2% of CI Investments Inc.’s holdings, making the stock its 25th largest position. CI Investments Inc.’s holdings in Chevron Corp. were worth $94,640,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC boosted its stake in 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 period. Marshall & Sullivan Inc. WA boosted its stake in 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 period. Carnick & Kubik LLC purchased a new stake in Chevron Corp. during the first quarter valued at $188,000. Exane Derivatives boosted its stake in 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 period. Finally, Sterling Investment Advisors LLC ADV purchased a new stake in Chevron Corp. during the second quarter valued at $203,000. 62.24% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.09% during mid-day trading on Friday, hitting $102.27. 5,844,492 shares of the stock traded hands. The stock’s market cap is $192.93 billion. The firm’s 50 day moving average price is $100.97 and its 200-day moving average price is $101.05. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings results 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. The company earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The company’s revenue was down 27.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. Analysts predict that Chevron Corp. will post $1.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 annualized dividend and a yield of 4.19%. Chevron Corp.’s dividend payout ratio is presently -1,097.44%.
CVX has been the subject of several analyst reports. Vetr raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 price target for the company in a research note on Tuesday, August 9th. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Tuesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $125.00 price objective on shares of Chevron Corp. in a research report on Thursday, July 28th. Twelve investment 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. The company currently has a consensus rating of “Buy” and an average price target of $105.53.
In related news, insider Michael K. Wirth sold 125,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 4,222 shares of the company’s stock, valued at $424,184.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pierre R. Breber sold 21,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
Chevron Corp. Company Profile
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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