Jackson Grant Investment Advisers Inc. increased its stake in Chevron Corp. (NYSE:CVX) by 52.1% during the second quarter, Holdings Channel reports. The institutional investor owned 3,295 shares of the company’s stock after buying an additional 1,129 shares during the period. Jackson Grant Investment Advisers Inc.’s holdings in Chevron Corp. were worth $215,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new stake in shares of Chevron Corp. during the second quarter valued at approximately $227,457,000. State Street Corp boosted its stake 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 valued at $10,513,045,000 after buying an additional 1,318,854 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake 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 valued at $4,736,072,000 after buying an additional 987,259 shares during the period. Standard Life Investments LTD boosted its stake 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 valued at $140,723,000 after buying an additional 952,718 shares during the period. Finally, Fisher Asset Management LLC boosted its stake 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 valued at $353,716,000 after buying an additional 851,977 shares during the period. 62.24% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron Corp. (NYSE:CVX) traded up 3.01% on Wednesday, hitting $101.96. The stock had a trading volume of 6,174,893 shares. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The firm’s market capitalization is $192.35 billion. The company has a 50 day moving average of $100.96 and a 200-day moving average of $100.76.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The company earned $29.28 billion during the quarter, compared to the consensus estimate of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The firm’s revenue was down 27.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Equities analysts predict that Chevron Corp. will post $1.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders 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 4.32%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
Several brokerages have recently commented on CVX. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $117.00 target price on shares of Chevron Corp. in a research report on Monday. BMO Capital Markets began coverage on Chevron Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price for the company. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a research report on Thursday, September 8th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Finally, Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $107.24 target price for the company. in a research report on Thursday, August 18th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Chevron Corp. presently has an average rating of “Buy” and an average price target of $105.01.
In related news, Director Inge G. Thulin purchased 487 shares of the stock in a transaction on Monday, August 15th. The shares were purchased at an average cost of $102.87 per share, with a total value of $50,097.69. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeanette L. Ourada sold 7,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $101.70, for a total transaction of $711,900.00. Following the completion of the transaction, the insider now directly owns 7,535 shares in the company, valued at $766,309.50. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company 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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