Motco decreased its position in shares of Chevron Corp. (NYSE:CVX) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 78,355 shares of the company’s stock after selling 2,264 shares during the period. Chevron Corp. comprises about 0.9% of Motco’s holdings, making the stock its 26th largest position. Motco’s holdings in Chevron Corp. were worth $8,214,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Chevron Corp. during the second quarter worth about $2,118,000. Chevy Chase Trust Holdings Inc. boosted its position 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 worth $172,407,000 after buying an additional 11,249 shares during the period. Howard Capital Management boosted its position in shares of Chevron Corp. by 1.2% in the second quarter. Howard Capital Management now owns 136,346 shares of the company’s stock worth $14,293,000 after buying an additional 1,676 shares during the period. First Quadrant L P CA boosted its position in shares of Chevron Corp. by 0.8% in the second quarter. First Quadrant L P CA now owns 245,387 shares of the company’s stock worth $25,724,000 after buying an additional 2,042 shares during the period. Finally, Arizona State Retirement System boosted its position 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 worth $69,680,000 after buying an additional 13,100 shares during the period. 62.24% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Corp. (NYSE:CVX) traded up 0.29% during midday trading on Friday, hitting $101.08. 5,114,718 shares of the stock traded hands. The stock has a 50-day moving average of $101.00 and a 200 day moving average of $101.27. The firm’s market cap is $190.69 billion. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $1.10. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The business’s revenue was down 27.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities analysts forecast that Chevron Corp. will post $1.31 EPS for the current year.
Several brokerages have issued reports on CVX. Vetr raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 target price for the company in a report on Tuesday, August 9th. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a report on Thursday, September 8th. Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. Zacks Investment Research cut shares of Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, BMO Capital Markets began coverage on shares of Chevron Corp. in a report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $105.89.
In other Chevron Corp. news, insider James William Johnson sold 10,945 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $101.44, for a total transaction of $1,110,260.80. Following the completion of the transaction, the insider now directly owns 13,000 shares in the company, valued at $1,318,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 21,000 shares of the company’s 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 disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
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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