Sigma Planning Corp lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 9.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,323 shares of the oil and gas company’s stock after selling 5,090 shares during the quarter. Sigma Planning Corp’s holdings in Chevron Corporation were worth $5,042,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new stake in Chevron Corporation during the second quarter worth approximately $106,000. Thompson Davis & CO. Inc. boosted its position 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. boosted its position 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. boosted its position 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. Finally, New Capital Management LP boosted its position 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. 62.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (CVX) opened at $117.18 on Friday. 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 capitalization of $222,568.66, a price-to-earnings ratio of 32.82, a PEG ratio of 3.91 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 announced its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. research analysts expect that Chevron Corporation will post 4.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued 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 payout ratio is presently 125.95%.
In other news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction on 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. Insiders have sold 29,041 shares of company stock worth $3,453,285 in the last 90 days. Company insiders own 0.38% of the company’s stock.
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CVX has been the subject of a number of recent analyst reports. TheStreet raised Chevron Corporation from a “c+” rating to a “b” rating in a research 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 research report on Sunday, July 30th. Citigroup Inc. decreased their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Finally, Scotiabank set a $115.00 price objective on Chevron Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $120.63.
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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