Kovitz Investment Group Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,561 shares of the oil and gas company’s stock after selling 512 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Chevron Corporation were worth $1,027,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. grew its holdings in shares of Chevron Corporation by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Chevron Corporation during the 1st quarter worth $140,000. Marshall & Sullivan Inc. WA grew its holdings in shares of Chevron Corporation by 8.8% during the 1st quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 160 shares in the last quarter. Merriman Wealth Management LLC acquired a new stake in shares of Chevron Corporation during the 1st quarter worth $224,000. Finally, Harwood Advisory Group LLC grew its holdings in shares of Chevron Corporation by 22.0% during the 1st quarter. Harwood Advisory Group LLC now owns 2,137 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 386 shares in the last quarter. 62.84% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on CVX shares. 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. UBS AG set a $105.00 price objective on Chevron Corporation and gave the stock a “neutral” rating in a research report on Wednesday, September 6th. Finally, BidaskClub upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $116.40.
In other news, Director Linnet F. Deily sold 2,312 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. In the last three months, insiders sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is currently owned by corporate insiders.
Shares of Chevron Corporation (CVX) traded down 0.33% during midday trading on Tuesday, hitting $112.15. The stock had a trading volume of 2,649,161 shares. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00. The firm’s 50-day moving average price is $108.29 and its 200-day moving average price is $107.02. The stock has a market cap of $212.52 billion, a price-to-earnings ratio of 36.37 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the previous year, the company posted ($0.78) EPS. Chevron Corporation’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts forecast that Chevron Corporation will post $3.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
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Chevron Corporation 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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