First Allied Advisory Services Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,269 shares of the oil and gas company’s stock after buying an additional 1,408 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Chevron were worth $7,754,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares during the last quarter. BlackRock Inc. lifted its stake in Chevron by 1.6% during the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the last quarter. Northern Trust Corp lifted its stake in Chevron by 0.6% during the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares during the last quarter. Franklin Resources Inc. lifted its stake in Chevron by 0.3% during the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after purchasing an additional 49,083 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Chevron by 3.8% during the second quarter. Ameriprise Financial Inc. now owns 12,558,663 shares of the oil and gas company’s stock worth $1,310,208,000 after purchasing an additional 455,902 shares during the last quarter. 63.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Corporation (CVX) traded up $0.93 during trading on Monday, reaching $120.85. The company’s stock had a trading volume of 436,704 shares, compared to its average volume of 5,613,547. 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 52-week low of $102.55 and a 52-week high of $122.30. The firm has a market cap of $227,772.92, a P/E ratio of 33.59, a P/E/G ratio of 3.97 and a beta of 1.21.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $34.06 billion. During the same period last year, the business posted $0.68 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. analysts forecast that Chevron Corporation will post 4.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.57%. Chevron’s payout ratio is currently 125.95%.
A number of research analysts have recently commented on the company. UBS set a $120.00 price target on Chevron and gave the company a “neutral” rating in a research note on Monday, December 4th. Bank of America set a $125.00 price target on Chevron and gave the company a “buy” rating in a research note on Saturday, December 2nd. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Citigroup increased their price target on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Jefferies Group reiterated a “buy” rating and issued a $137.00 price target (up from $113.54) on shares of Chevron in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Chevron presently has an average rating of “Hold” and an average price target of $121.22.
In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares in the company, valued at approximately $145,022. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,000 shares of company stock valued at $36,540,822. Company insiders own 0.38% of the company’s stock.
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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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