Stonebridge Capital Management Inc. lifted its holdings in Chevron Corporation (NYSE:CVX) by 5.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,226 shares of the oil and gas company’s stock after buying an additional 4,810 shares during the quarter. Chevron Corporation comprises 3.5% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 5th biggest holding. Stonebridge Capital Management Inc.’s holdings in Chevron Corporation were worth $9,100,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CVX. Jolley Asset Management LLC raised its holdings in shares of Chevron Corporation by 5.3% in the first quarter. Jolley Asset Management LLC now owns 19,682 shares of the oil and gas company’s stock valued at $2,113,000 after buying an additional 998 shares during the last quarter. Somerset Trust Co raised its holdings in shares of Chevron Corporation by 2.0% in the first quarter. Somerset Trust Co now owns 11,859 shares of the oil and gas company’s stock valued at $1,273,000 after buying an additional 230 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Chevron Corporation by 17.2% in the first quarter. Capital Investment Advisors LLC now owns 53,873 shares of the oil and gas company’s stock valued at $5,784,000 after buying an additional 7,898 shares during the last quarter. First Financial Corp IN raised its holdings in shares of Chevron Corporation by 5.0% in the first quarter. First Financial Corp IN now owns 8,184 shares of the oil and gas company’s stock valued at $878,000 after buying an additional 389 shares during the last quarter. Finally, Evanson Asset Management LLC raised its holdings in shares of Chevron Corporation by 0.5% in the first quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock valued at $1,022,000 after buying an additional 44 shares during the last quarter. 62.79% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron Corporation (NYSE CVX) opened at 118.44 on Friday. Chevron Corporation has a 1-year low of $99.92 and a 1-year high of $120.89. The company has a market cap of $224.44 billion, a PE ratio of 38.40 and a beta of 1.24. The firm has a 50-day moving average price of $116.86 and a 200 day moving average price of $108.94.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.78) earnings per share. On average, equities analysts anticipate that Chevron Corporation will post $4.07 earnings per share for the current year.
The company 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. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.65%. Chevron Corporation’s payout ratio is presently 140.26%.
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In related news, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the transaction, the insider now directly owns 11,000 shares in the company, valued at $1,217,480. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction dated 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. Over the last 90 days, insiders sold 97,812 shares of company stock worth $11,068,343. Corporate insiders own 0.38% of the company’s stock.
CVX has been the subject of several recent research reports. Scotiabank reissued a “buy” rating and set a $113.00 price objective on shares of Chevron Corporation in a report on Friday, June 30th. BidaskClub raised Chevron Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Royal Bank Of Canada cut Chevron Corporation from a “sector perform” rating to an “underperform” rating and dropped their price objective for the stock from $112.00 to $100.00 in a report on Thursday, July 6th. Wells Fargo & Company reissued a “market perform” rating and set a $100.00 price objective (down from $107.00) on shares of Chevron Corporation in a report on Thursday, July 6th. Finally, Barclays PLC reissued an “overweight” rating and set a $125.00 price objective (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $119.66.
Chevron Corporation 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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