CAPROCK Group Inc. grew its holdings in Chevron Corporation (NYSE:CVX) by 31.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,440 shares of the oil and gas company’s stock after buying an additional 3,453 shares during the quarter. CAPROCK Group Inc.’s holdings in Chevron Corporation were worth $1,507,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in CVX. Evanson Asset Management LLC increased its position in shares of Chevron Corporation by 0.5% during the 1st quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock worth $1,022,000 after purchasing an additional 44 shares in the last quarter. Greylin Investment Mangement Inc. increased its position in shares of Chevron Corporation by 7.2% during the 1st quarter. Greylin Investment Mangement Inc. now owns 10,175 shares of the oil and gas company’s stock worth $1,092,000 after purchasing an additional 685 shares in the last quarter. Benin Management CORP increased its position in shares of Chevron Corporation by 145.1% during the 1st quarter. Benin Management CORP now owns 12,359 shares of the oil and gas company’s stock worth $1,327,000 after purchasing an additional 7,317 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in Chevron Corporation by 2.2% during the 1st quarter. Patten & Patten Inc. TN now owns 71,867 shares of the oil and gas company’s stock worth $7,716,000 after acquiring an additional 1,543 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its holdings in Chevron Corporation by 1.0% during the 1st quarter. St. Johns Investment Management Company LLC now owns 9,568 shares of the oil and gas company’s stock worth $1,027,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 62.79% of the company’s stock.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s 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 completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,812 shares of company stock valued at $11,068,343. 0.38% of the stock is owned by company insiders.
Chevron Corporation (CVX) opened at 113.54 on Friday. The company has a 50 day moving average of $116.86 and a 200 day moving average of $108.94. Chevron Corporation has a 1-year low of $99.92 and a 1-year high of $120.89. The company has a market capitalization of $215.16 billion, a PE ratio of 36.82 and a beta of 1.24.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, analysts predict that Chevron Corporation will post $4.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
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A number of equities research analysts have commented on the stock. TheStreet raised shares of Chevron Corporation from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Wells Fargo & Company reissued a “market perform” rating on shares of Chevron Corporation in a report on Thursday, October 19th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and set a $137.00 price objective on shares of Chevron Corporation in a report on Thursday, October 19th. Morgan Stanley increased their price objective on shares of Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Societe Generale lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and increased their price objective for the stock from $120.00 to $130.00 in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $119.66.
About Chevron Corporation
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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