Vectors Research Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,278 shares of the oil and gas company’s stock after purchasing an additional 618 shares during the quarter. Vectors Research Management LLC’s holdings in Chevron were worth $3,081,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CVX. Matrix Private Capital Group LLC boosted its position in shares of Chevron by 0.3% during the first quarter. Matrix Private Capital Group LLC now owns 20,229 shares of the oil and gas company’s stock valued at $3,294,000 after purchasing an additional 64 shares in the last quarter. Ellis Investment Partners LLC boosted its position in shares of Chevron by 1.4% during the second quarter. Ellis Investment Partners LLC now owns 4,722 shares of the oil and gas company’s stock valued at $683,000 after purchasing an additional 67 shares in the last quarter. Platform Technology Partners boosted its position in shares of Chevron by 0.6% during the second quarter. Platform Technology Partners now owns 11,350 shares of the oil and gas company’s stock valued at $1,643,000 after purchasing an additional 67 shares in the last quarter. SMH Capital Advisors Inc. boosted its position in shares of Chevron by 1.7% during the first quarter. SMH Capital Advisors Inc. now owns 4,108 shares of the oil and gas company’s stock valued at $669,000 after purchasing an additional 68 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its position in shares of Chevron by 0.7% during the first quarter. Washington Trust Advisors Inc. now owns 9,154 shares of the oil and gas company’s stock valued at $1,491,000 after purchasing an additional 68 shares in the last quarter. 69.30% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Chevron
In other news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $185.09, for a total value of $10,250,284.20. The disclosure for this sale can be found here. Insiders sold a total of 125,097 shares of company stock valued at $22,971,967 over the last 90 days. Company insiders own 0.32% of the company’s stock.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.34. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The business had revenue of $66.64 billion during the quarter, compared to analyst estimates of $61.44 billion. During the same quarter in the previous year, the company posted $2.96 earnings per share. Chevron’s revenue for the quarter was up 49.1% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 19.24 earnings per share for the current fiscal year.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, November 17th. Chevron’s dividend payout ratio (DPR) is 32.31%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CVX shares. Bank of America lifted their price target on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. StockNews.com initiated coverage on Chevron in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup lifted their price objective on Chevron from $155.00 to $180.00 in a research note on Tuesday. HSBC cut Chevron from a “buy” rating to a “hold” rating and set a $177.00 price objective for the company. in a research note on Monday, October 24th. Finally, Jefferies Financial Group initiated coverage on Chevron in a research note on Wednesday, October 19th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $179.85.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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.
- Get a free copy of the StockNews.com research report on Chevron (CVX)
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