Xact Kapitalforvaltning AB raised its position in shares of Chevron Corporation (NYSE:CVX) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,957 shares of the oil and gas company’s stock after buying an additional 11,537 shares during the period. Xact Kapitalforvaltning AB’s holdings in Chevron Corporation were worth $15,779,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont increased its stake in shares of Chevron Corporation by 1.9% in the first quarter. Trust Co. of Vermont now owns 106,082 shares of the oil and gas company’s stock worth $11,390,000 after buying an additional 2,029 shares in the last quarter. Princeton Alpha Management LP purchased a new stake in shares of Chevron Corporation during the first quarter worth $422,000. HPM Partners LLC increased its stake in shares of Chevron Corporation by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after buying an additional 25,691 shares in the last quarter. TIAA CREF Trust Co. FSB MO increased its stake in shares of Chevron Corporation by 0.8% in the first quarter. TIAA CREF Trust Co. FSB MO now owns 168,080 shares of the oil and gas company’s stock worth $18,047,000 after buying an additional 1,370 shares in the last quarter. Finally, Pillar Pacific Capital Management LLC increased its stake in shares of Chevron Corporation by 7.3% in the first quarter. Pillar Pacific Capital Management LLC now owns 60,260 shares of the oil and gas company’s stock worth $6,471,000 after buying an additional 4,085 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.
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. The company has a 50 day moving average of $106.43 and a 200 day moving average of $107.47. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results 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 analyst estimates of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.78) EPS. On average, analysts predict that Chevron Corporation will post $3.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
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A number of brokerages recently weighed in on CVX. Zacks Investment Research upgraded shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Saturday, June 24th. TheStreet downgraded shares of Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Finally, BNP Paribas upgraded shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 target price on the stock in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $116.80.
In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. 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. Corporate insiders own 0.38% of the company’s stock.
Chevron Corporation 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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