Majedie Asset Management Ltd raised its position in shares of Chevron Corporation (NYSE:CVX) by 14.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 140,333 shares of the oil and gas company’s stock after buying an additional 17,646 shares during the period. Chevron Corporation makes up about 1.6% of Majedie Asset Management Ltd’s holdings, making the stock its 15th largest position. Majedie Asset Management Ltd’s holdings in Chevron Corporation were worth $15,068,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Haverford Financial Services Inc. raised its position in Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after buying an additional 16 shares during the period. Orgel Wealth Management LLC raised its position in Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after buying an additional 18 shares during the period. Westbourne Investment Advisors Inc. raised its position in Chevron Corporation by 0.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock worth $798,000 after buying an additional 33 shares during the period. Court Place Advisors LLC raised its position in Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock worth $641,000 after buying an additional 36 shares during the period. Finally, Evanson Asset Management LLC raised its position in Chevron Corporation by 0.5% in the first quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock worth $1,022,000 after buying an additional 44 shares during the period. 62.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (NYSE:CVX) opened at 106.48 on Friday. The company has a market capitalization of $201.78 billion, a PE 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. The company’s 50 day moving average is $106.43 and its 200-day moving average is $107.47.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.78) earnings per share. On average, analysts expect that Chevron Corporation will post $3.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.06%. Chevron Corporation’s dividend payout ratio is presently 140.26%.
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Several research analysts have recently weighed in on the stock. Jefferies Group LLC set a $135.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a report on Saturday, June 24th. Barclays PLC reiterated an “overweight” rating and set a $125.00 price objective (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. BidaskClub lowered shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Macquarie lowered shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a report on Wednesday, June 21st. Finally, Zacks Investment Research downgraded shares of Chevron Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Three 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 stock. The company has a consensus rating of “Buy” and an average target price of $116.80.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of the company’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 completion of the sale, 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, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock valued at $8,008,343 in the last quarter. 0.38% of the stock is currently 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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