Old Mutual Global Investors UK Ltd. lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,217 shares of the oil and gas company’s stock after selling 6,732 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Chevron were worth $10,872,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CVX. Shine Investment Advisory Services Inc. purchased a new position in shares of Chevron in the 2nd quarter valued at about $106,000. Thompson Davis & CO. Inc. increased its holdings in shares of Chevron by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares in the last quarter. Winfield Associates Inc. increased its holdings in shares of Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. increased its holdings in shares of Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares in the last quarter. Finally, New Capital Management LP increased its holdings in shares of Chevron by 0.3% in the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.
Shares of Chevron Corporation (CVX) traded down $0.78 on Thursday, hitting $119.61. 4,852,500 shares of the stock traded hands, compared to its average volume of 5,622,893. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $122.30. The firm has a market capitalization of $228,665.63, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 3.93 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities analysts expect that Chevron Corporation will post 4.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s payout ratio is currently 125.95%.
In related news, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the sale, the chief financial officer now owns 39,506 shares of the company’s stock, valued at $4,554,646.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now owns 17,981 shares in the company, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.
Several equities analysts have weighed in on CVX shares. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Jefferies Group set a $130.00 price target on shares of Chevron and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price target on shares of Chevron and gave the stock a “buy” rating in a research note on Friday, August 25th. Credit Suisse Group set a $123.00 price target on shares of Chevron and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $123.00 price target (up from $118.00) on shares of Chevron in a research note on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $121.22.
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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