Alley Co LLC boosted its stake in Chevron Corporation (NYSE:CVX) by 17.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,497 shares of the oil and gas company’s stock after buying an additional 2,907 shares during the period. Alley Co LLC’s holdings in Chevron Corporation were worth $2,093,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Chevron Corporation during the fourth quarter worth approximately $2,183,692,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Chevron Corporation during the fourth quarter worth approximately $179,172,000. Karp Capital Management Corp bought a new position in Chevron Corporation during the first quarter worth approximately $77,388,000. Thomaspartners Inc. raised its position in Chevron Corporation by 30.5% in the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock worth $302,271,000 after buying an additional 657,826 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Chevron Corporation by 14.9% in the fourth quarter. Teachers Advisors LLC now owns 4,416,166 shares of the oil and gas company’s stock worth $519,783,000 after buying an additional 573,660 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.
Shares of Chevron Corporation (NYSE CVX) opened at 106.48 on Friday. The company’s 50-day moving average price is $106.43 and its 200-day moving average price is $107.47. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00. The stock has a market cap of $201.78 billion, a PE ratio of 34.53 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the previous year, the business earned ($0.78) earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post $3.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 4.06%. Chevron Corporation’s payout ratio is 140.26%.
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CVX has been the topic of several recent analyst reports. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Macquarie lowered Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research report on Wednesday, June 21st. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and lowered their target price for the stock from $124.00 to $102.00 in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Chevron Corporation has a consensus rating of “Buy” and an average target price of $116.80.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock worth $8,008,343 over the last 90 days. Company insiders own 0.38% of the company’s stock.
About Chevron Corporation
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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