Cornerstone Advisors Inc. maintained its position in shares of Chevron Corporation (NYSE:CVX) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,200 shares of the oil and gas company’s stock at the end of the first quarter. Cornerstone Advisors Inc.’s holdings in Chevron Corporation were worth $451,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stellar Capital Management LLC bought a new position in Chevron Corporation during the fourth quarter worth about $2,248,000. Asset Management One Co. Ltd. raised its position in Chevron Corporation by 1,003.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,341,628 shares of the oil and gas company’s stock worth $393,351,000 after buying an additional 3,038,922 shares in the last quarter. Good Life Advisors LLC bought a new position in Chevron Corporation during the fourth quarter worth about $881,000. Gyroscope Capital Management Group LLC raised its position in Chevron Corporation by 3.1% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 38,989 shares of the oil and gas company’s stock worth $4,589,000 after buying an additional 1,155 shares in the last quarter. Finally, Iberiabank Corp raised its position in Chevron Corporation by 8.5% in the fourth quarter. Iberiabank Corp now owns 40,561 shares of the oil and gas company’s stock worth $4,774,000 after buying an additional 3,171 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.
Shares of Chevron Corporation (CVX) traded up 0.53% on Friday, reaching $106.48. The company’s stock had a trading volume of 5,467,369 shares. The company has a 50 day moving average price of $106.43 and a 200 day moving average price of $107.47. The company has a market cap of $201.78 billion, a P/E ratio of 34.53 and a beta of 1.23. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.78) EPS. On average, analysts anticipate that Chevron Corporation will post $3.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. BNP Paribas upgraded Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research report on Monday, August 7th. BidaskClub upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, TheStreet lowered Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $116.80.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock valued at $8,008,343 in the last 90 days. 0.38% of the stock is owned by corporate insiders.
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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