Private Capital Management Inc. lowered its stake in Chevron Corp. (NYSE:CVX) by 24.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,700 shares of the company’s stock after selling 3,200 shares during the period. Chevron Corp. accounts for 1.0% of Private Capital Management Inc.’s portfolio, making the stock its 21st largest position. Private Capital Management Inc.’s holdings in Chevron Corp. were worth $1,016,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC boosted its position 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 worth $101,000 after buying an additional 134 shares during the last quarter. Marshall & Sullivan Inc. WA boosted its position 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 worth $174,000 after buying an additional 71 shares during the last quarter. Carnick & Kubik LLC purchased a new position in shares of Chevron Corp. during the first quarter worth $188,000. Exane Derivatives boosted its position in shares of Chevron Corp. by 57.3% in the first quarter. Exane Derivatives now owns 1,994 shares of the company’s stock worth $190,000 after buying an additional 726 shares during the last quarter. Finally, Sterling Investment Advisors LLC ADV purchased a new position in shares of Chevron Corp. during the second quarter worth $203,000. Institutional investors and hedge funds own 62.24% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 0.07% during midday trading on Tuesday, reaching $98.85. The company’s stock had a trading volume of 5,003,734 shares. Chevron Corp. has a 52-week low of $75.28 and a 52-week high of $107.58. The stock’s market capitalization is $186.48 billion. The firm has a 50-day moving average price of $101.02 and a 200 day moving average price of $100.73.
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 Thomson Reuters’ 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 earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same period last year, the company earned $0.30 EPS. The business’s revenue for the quarter was down 27.4% on a year-over-year basis. Equities research analysts predict that Chevron Corp. will post $1.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Wednesday, August 17th. Chevron Corp.’s dividend payout ratio (DPR) is presently -1,097.44%.
A number of research analysts recently weighed in on CVX shares. Jefferies Group reiterated a “buy” rating and issued a $116.00 target price (up previously from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price objective on shares of Chevron Corp. in a research report on Thursday, July 28th. BMO Capital Markets started coverage on Chevron Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $110.00 to $117.00 in a research report on Tuesday, August 9th. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $105.01.
In related news, insider Michael K. Wirth sold 125,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 4,222 shares of the company’s stock, valued at $424,184.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanette L. Ourada sold 7,000 shares of the stock in a transaction dated Thursday, August 25th. The stock was 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 of the company’s stock, valued at approximately $766,309.50. 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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