SPC Financial Inc. lowered its stake in shares of Chevron Corp. (NYSE:CVX) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 6,431 shares of the company’s stock after selling 500 shares during the period. SPC Financial Inc.’s holdings in Chevron Corp. were worth $674,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC increased its position 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 worth $174,000 after buying an additional 71 shares in the last quarter. Carnick & Kubik LLC acquired a new stake in Chevron Corp. during the first quarter worth approximately $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 worth $190,000 after buying an additional 726 shares in the last quarter. Finally, Sterling Investment Advisors LLC ADV acquired a new stake in Chevron Corp. during the second quarter worth approximately $203,000. Institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.29% during mid-day trading on Friday, hitting $101.08. The company had a trading volume of 5,114,718 shares. The firm has a 50-day moving average price of $101.00 and a 200 day moving average price of $101.27. The firm’s market capitalization 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 released its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $1.10. The business 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 firm’s revenue was down 27.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. Analysts expect that Chevron Corp. will post $1.31 earnings per share for the current year.
A number of equities research analysts have commented on CVX shares. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target on the stock. in a report on Monday, June 20th. Jefferies Group reissued a “buy” rating and set a $116.00 price target (up from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Tuesday, July 12th. Barclays PLC reissued an “equal weight” rating and set a $125.00 price target on shares of Chevron Corp. in a report on Thursday, July 28th. Finally, Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Chevron Corp. presently has a consensus rating of “Buy” and an average price target of $105.09.
In other Chevron Corp. news, Director Inge G. Thulin acquired 487 shares of the business’s stock in a transaction on Monday, August 15th. The stock was bought at an average price of $102.87 per share, for a total transaction of $50,097.69. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $12,558,750.00. Following the completion of the sale, the insider now owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. 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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