Hemenway Trust Co LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,305 shares of the company’s stock after selling 382 shares during the period. Chevron makes up about 1.6% of Hemenway Trust Co LLC’s holdings, making the stock its 27th largest position. Hemenway Trust Co LLC’s holdings in Chevron were worth $6,274,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in CVX. Curbstone Financial Management Corp boosted its position in Chevron by 6.4% in the third quarter. Curbstone Financial Management Corp now owns 14,702 shares of the company’s stock valued at $1,513,000 after buying an additional 888 shares during the period. Fulton Bank N.A. boosted its position in Chevron by 5.7% in the third quarter. Fulton Bank N.A. now owns 40,053 shares of the company’s stock valued at $4,123,000 after buying an additional 2,176 shares during the period. BNP Paribas Arbitrage SA boosted its position in Chevron by 6.1% in the third quarter. BNP Paribas Arbitrage SA now owns 1,020,674 shares of the company’s stock valued at $105,048,000 after buying an additional 58,481 shares during the period. Eqis Capital Management Inc. boosted its position in Chevron by 21.9% in the third quarter. Eqis Capital Management Inc. now owns 4,925 shares of the company’s stock valued at $507,000 after buying an additional 884 shares during the period. Finally, Lynch & Associates IN boosted its position in Chevron by 5.0% in the third quarter. Lynch & Associates IN now owns 42,382 shares of the company’s stock valued at $4,362,000 after buying an additional 2,008 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.
Shares of Chevron Co. (NYSE:CVX) opened at 107.66 on Tuesday. The company’s 50-day moving average price is $111.42 and its 200 day moving average price is $109.05. Chevron Co. has a 52 week low of $92.25 and a 52 week high of $119.00. The firm’s market cap is $203.81 billion.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 27th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.42. The company had revenue of $31.50 billion for the quarter, compared to analyst estimates of $35.24 billion. Chevron had a positive return on equity of 1.26% and a negative net margin of 0.43%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) earnings per share. On average, equities analysts anticipate that Chevron Co. will post $4.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were issued a dividend of $1.08 per share. The ex-dividend date was Tuesday, February 14th. This represents a $4.32 annualized dividend and a dividend yield of 4.01%. Chevron’s dividend payout ratio (DPR) is presently -1,600.00%.
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Several equities analysts have commented on the company. Scotiabank set a $121.00 price target on Chevron and gave the company a “buy” rating in a report on Tuesday, March 14th. Jefferies Group LLC restated a “buy” rating and set a $147.00 price target on shares of Chevron in a research report on Wednesday, March 8th. Credit Suisse Group AG restated a “hold” rating on shares of Chevron in a research report on Friday, March 3rd. Evercore ISI restated an “underweight” rating on shares of Chevron in a research report on Monday, February 27th. Finally, Wells Fargo & Co restated a “market perform” rating on shares of Chevron in a research report on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $119.65.
In other news, insider Pierre R. Breber sold 45,000 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.80, for a total transaction of $5,031,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.
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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