Rothschild Asset Management Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 776,157 shares of the oil and gas company’s stock after selling 4,219 shares during the quarter. Chevron Corporation makes up 0.9% of Rothschild Asset Management Inc.’s holdings, making the stock its 12th biggest holding. Rothschild Asset Management Inc.’s holdings in Chevron Corporation were worth $80,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of CVX. Thompson Davis & CO. Inc. grew its stake in Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares during the period. Winfield Associates Inc. grew its stake in Chevron Corporation by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares during the period. Daiwa SB Investments Ltd. grew its stake in Chevron Corporation by 438.5% during the second 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 grew its stake in Chevron Corporation by 0.3% during the first 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. Finally, Marshall & Sullivan Inc. WA grew its stake in Chevron Corporation by 8.8% during the first 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. Institutional investors own 62.79% of the company’s stock.
Several research firms recently commented on CVX. BMO Capital Markets cut Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 target price for the company. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Morgan Stanley raised their target price on Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Societe Generale cut Chevron Corporation from a “buy” rating to a “hold” rating and raised their price objective for the company from $120.00 to $130.00 in a research note on Wednesday, October 18th. Vetr cut Chevron Corporation 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 Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Chevron Corporation has a consensus rating of “Hold” and an average target price of $119.66.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,812 shares of company stock worth $11,068,343. Insiders own 0.38% of the company’s stock.
Shares of Chevron Corporation (CVX) opened at 118.44 on Friday. The company has a market capitalization of $224.44 billion, a price-to-earnings ratio of 38.40 and a beta of 1.24. The company’s 50 day moving average price is $116.86 and its 200-day moving average price is $108.94. Chevron Corporation has a 1-year low of $99.92 and a 1-year high of $120.89.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results 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 business had revenue of $34.48 billion for 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 business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm earned ($0.78) earnings per share. On average, equities analysts forecast that Chevron Corporation will post $4.07 earnings per share for the current 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 3.65%. Chevron Corporation’s dividend payout ratio is presently 140.26%.
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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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