Russell Investments Group Ltd. increased its holdings in Chevron Corporation (NYSE:CVX) by 11.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,729,208 shares of the oil and gas company’s stock after purchasing an additional 181,852 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of Chevron Corporation worth $180,413,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. LVM Capital Management Ltd. MI boosted its position in Chevron Corporation by 0.6% during the 1st quarter. LVM Capital Management Ltd. MI now owns 27,920 shares of the oil and gas company’s stock valued at $2,998,000 after buying an additional 175 shares during the period. Stillwater Investment Management LLC boosted its position in Chevron Corporation by 6.2% during the 1st quarter. Stillwater Investment Management LLC now owns 2,551 shares of the oil and gas company’s stock valued at $274,000 after buying an additional 148 shares during the period. Legacy Private Trust Co. boosted its position in Chevron Corporation by 790.2% during the 1st quarter. Legacy Private Trust Co. now owns 18,427 shares of the oil and gas company’s stock valued at $1,979,000 after buying an additional 16,357 shares during the period. Laurel Grove Capital LLC boosted its position in Chevron Corporation by 10.4% during the 1st quarter. Laurel Grove Capital LLC now owns 16,475 shares of the oil and gas company’s stock valued at $1,769,000 after buying an additional 1,550 shares during the period. Finally, Highland Capital Management LLC boosted its position in Chevron Corporation by 1.5% during the 1st quarter. Highland Capital Management LLC now owns 137,989 shares of the oil and gas company’s stock valued at $14,816,000 after buying an additional 2,024 shares during the period. 62.74% of the stock is owned by institutional investors.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is owned by corporate insiders.
Several brokerages have weighed in on CVX. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $123.00 price target (up previously from $118.00) on shares of Chevron Corporation in a research report on Tuesday. Cowen and Company restated a “buy” rating and issued a $122.00 price objective on shares of Chevron Corporation in a report on Tuesday. J P Morgan Chase & Co restated an “overweight” rating on shares of Chevron Corporation in a report on Saturday, September 16th. Scotiabank restated a “buy” rating on shares of Chevron Corporation in a report on Friday, September 15th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $116.88.
Chevron Corporation (CVX) traded up 0.597% during mid-day trading on Friday, reaching $117.165. 3,084,929 shares of the company’s stock were exchanged. The company’s 50-day moving average is $109.87 and its 200 day moving average is $107.14. The firm has a market capitalization of $222.03 billion, a P/E ratio of 37.991 and a beta of 1.23. Chevron Corporation has a one year low of $97.79 and a one year high of $119.00.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. During the same quarter in the prior year, the company posted ($0.78) earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were issued a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.71%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
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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