Usca Ria LLC grew its position in Chevron Co. (NYSE:CVX) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,951 shares of the oil and gas company’s stock after acquiring an additional 8,291 shares during the period. Chevron comprises about 2.3% of Usca Ria LLC’s portfolio, making the stock its 10th largest holding. Usca Ria LLC’s holdings in Chevron were worth $7,958,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. BKD Wealth Advisors LLC boosted its holdings in Chevron by 2.5% in the fourth quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after purchasing an additional 763 shares in the last quarter. We Are One Seven LLC boosted its holdings in Chevron by 19.7% in the fourth quarter. We Are One Seven LLC now owns 9,526 shares of the oil and gas company’s stock worth $1,035,000 after purchasing an additional 1,565 shares in the last quarter. Puzo Michael J boosted its holdings in Chevron by 9.0% in the fourth quarter. Puzo Michael J now owns 27,302 shares of the oil and gas company’s stock worth $2,970,000 after purchasing an additional 2,245 shares in the last quarter. Simmons Bank boosted its holdings in Chevron by 1.1% in the fourth quarter. Simmons Bank now owns 69,949 shares of the oil and gas company’s stock worth $7,609,000 after purchasing an additional 757 shares in the last quarter. Finally, UMB Bank N A MO boosted its holdings in Chevron by 1.5% in the fourth quarter. UMB Bank N A MO now owns 276,612 shares of the oil and gas company’s stock worth $30,093,000 after purchasing an additional 4,167 shares in the last quarter. 66.45% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday. They issued an “outperform” rating and a $165.00 price objective for the company. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Citigroup assumed coverage on shares of Chevron in a report on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Barclays assumed coverage on shares of Chevron in a report on Monday. They issued an “overweight” rating and a $145.00 price objective for the company. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $136.78.
Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. Equities analysts anticipate that Chevron Co. will post 6.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio is 57.70%.
In other news, insider Joseph C. Geagea sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the completion of the transaction, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the transaction, the chairman now directly owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,750 shares of company stock valued at $6,448,700. Company insiders own 0.31% of the company’s stock.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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