Taurus Asset Management LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,554 shares of the oil and gas company’s stock after selling 2,425 shares during the quarter. Taurus Asset Management LLC’s holdings in Chevron were worth $3,292,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its stake in Chevron by 56.0% in the 2nd quarter. Ballentine Partners LLC now owns 13,643 shares of the oil and gas company’s stock worth $1,424,000 after acquiring an additional 4,896 shares during the last quarter. Highstreet Asset Management Inc. increased its stake in Chevron by 13.5% in the 2nd quarter. Highstreet Asset Management Inc. now owns 16,089 shares of the oil and gas company’s stock worth $1,679,000 after acquiring an additional 1,910 shares during the last quarter. Everett Harris & Co. CA increased its stake in Chevron by 1.4% in the 2nd quarter. Everett Harris & Co. CA now owns 296,172 shares of the oil and gas company’s stock worth $30,900,000 after acquiring an additional 4,229 shares during the last quarter. GW Henssler & Associates Ltd. increased its position in shares of Chevron by 2.4% during the 2nd quarter. GW Henssler & Associates Ltd. now owns 128,728 shares of the oil and gas company’s stock valued at $13,430,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Chevron by 3.7% during the 2nd quarter. Gabelli Funds LLC now owns 595,800 shares of the oil and gas company’s stock valued at $62,160,000 after purchasing an additional 21,500 shares during the last quarter. 63.93% of the stock is owned by institutional investors.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock worth $36,540,822 over the last three months. Corporate insiders own 0.38% of the company’s stock.
Shares of Chevron Corporation (NYSE:CVX) traded down $0.78 on Wednesday, hitting $119.61. The stock had a trading volume of 4,852,512 shares, compared to its average volume of 5,622,893. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Corporation has a 12-month low of $102.55 and a 12-month high of $122.30. The stock has a market cap of $229,520.33, a price-to-earnings ratio of 33.85, a PEG ratio of 3.94 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. During the same period last year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. research analysts forecast that Chevron Corporation will post 4.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 125.95%.
Several research firms recently issued reports on CVX. BMO Capital Markets lowered Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 price target on the stock. in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Societe Generale cut Chevron from a “buy” rating to a “hold” rating and increased their price objective for the stock from $120.00 to $130.00 in a report on Wednesday, October 18th. Morgan Stanley raised their target price on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Vetr cut Chevron from a “buy” rating to a “hold” rating and set a $124.92 price objective for the company. in a research note on Monday, October 16th. Finally, Macquarie raised Chevron from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Chevron presently has a consensus rating of “Hold” and an average price target of $121.22.
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Chevron 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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