Texas Capital Bancshares Inc. TX acquired a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,874 shares of the oil and gas company’s stock, valued at approximately $404,000. Chevron Corporation accounts for about 0.9% of Texas Capital Bancshares Inc. TX’s holdings, making the stock its 24th biggest position.
Other hedge funds also recently modified their holdings of the company. Thompson Davis & CO. Inc. lifted its holdings in shares of Chevron Corporation 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 buying an additional 191 shares during the period. Daiwa SB Investments Ltd. raised its holdings in Chevron Corporation by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares during the period. New Capital Management LP raised its holdings in Chevron Corporation by 0.3% in the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4 shares during the period. Marshall & Sullivan Inc. WA raised its holdings in Chevron Corporation by 8.8% in the 1st quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 160 shares during the period. Finally, Harwood Advisory Group LLC raised its holdings in Chevron Corporation by 22.0% in the 1st quarter. Harwood Advisory Group LLC now owns 2,137 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 386 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Insiders have sold a total of 72,312 shares of company stock valued at $8,008,343 over the last 90 days. Insiders own 0.38% of the company’s stock.
A number of research firms recently weighed in on CVX. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Jefferies Group LLC set a $135.00 price target on Chevron Corporation and gave the stock a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. BNP Paribas raised Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a report on Monday, August 7th. Finally, TheStreet cut Chevron Corporation from a “b” rating to a “c+” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Chevron Corporation currently has an average rating of “Buy” and a consensus target price of $117.07.
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Shares of Chevron Corporation (NYSE:CVX) opened at 119.16 on Friday. The stock has a 50 day moving average price of $114.83 and a 200-day moving average price of $108.32. Chevron Corporation has a 52-week low of $99.87 and a 52-week high of $120.00. The stock has a market capitalization of $225.81 billion, a price-to-earnings ratio of 38.64 and a beta of 1.24.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the previous year, the firm posted ($0.78) EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post $3.99 EPS for the current fiscal year.
Chevron Corporation 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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