First Manhattan Co. trimmed its position in Chevron Corporation (NYSE:CVX) by 39.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,147 shares of the oil and gas company’s stock after selling 30,180 shares during the period. First Manhattan Co.’s holdings in Chevron Corporation were worth $4,814,000 at the end of the most recent quarter.
Other institutional investors have 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 first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares in the last quarter. Winfield Associates Inc. lifted its holdings in shares of Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. lifted its holdings in shares of Chevron Corporation by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares in the last quarter. New Capital Management LP lifted its holdings in shares of Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA lifted its holdings in shares of Chevron Corporation by 8.8% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 62.91% of the company’s stock.
A number of analysts have recently commented on CVX shares. TheStreet upgraded Chevron Corporation from a “c+” rating to a “b” rating in a report on Monday, October 23rd. BMO Capital Markets set a $120.00 target price on Chevron Corporation and gave the stock a “buy” rating in a report on Sunday, July 30th. Citigroup Inc. dropped their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Finally, Scotiabank set a $115.00 target price on Chevron Corporation and gave the stock a “buy” rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $120.63.
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Chevron Corporation (NYSE CVX) traded down $0.06 during trading on Friday, hitting $117.18. 5,156,800 shares of the company’s stock traded hands, compared to its average volume of 5,670,165. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market cap of $222,682.59, a PE ratio of 32.84, a P/E/G ratio of 3.92 and a beta of 1.22. Chevron Corporation has a 1 year low of $102.55 and a 1 year high of $120.89.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period in the previous year, the business earned $0.68 EPS. Chevron Corporation’s revenue was up 20.1% compared to the same quarter last year. sell-side analysts expect that Chevron Corporation will post 4.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is 125.95%.
In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,041 shares of company stock valued at $3,453,285. Insiders own 0.38% of the company’s stock.
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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