Chevron Corporation (NYSE:CVX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,157,371 shares of the oil and gas company’s stock after selling 1,166,122 shares during the quarter. Chevron accounts for approximately 0.7% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 19th largest position. Bank of New York Mellon Corp owned 1.17% of Chevron worth $2,311,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Harbour Capital Advisors LLC lifted its stake in Chevron by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares during the period. State Street Corp boosted its position in Chevron by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares during the last quarter. Boston Partners boosted its position in Chevron by 17.9% in the second quarter. Boston Partners now owns 7,147,113 shares of the oil and gas company’s stock valued at $745,659,000 after buying an additional 1,084,757 shares during the last quarter. First Trust Advisors LP boosted its position in Chevron by 204.4% in the second quarter. First Trust Advisors LP now owns 1,373,511 shares of the oil and gas company’s stock valued at $143,298,000 after buying an additional 922,316 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Chevron in the first quarter valued at approximately $77,388,000. 63.93% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on CVX shares. TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Jefferies Group set a $130.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Friday, August 25th. Credit Suisse Group set a $123.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $123.00 price objective (up previously from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Chevron has an average rating of “Hold” and a consensus price target of $121.22.

Shares of Chevron Corporation (CVX) traded up $1.33 during trading on Monday, reaching $120.84. The company had a trading volume of 7,366,372 shares, compared to its average volume of 5,631,530. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $122.30. The stock has a market cap of $229,520.00, a PE ratio of 33.48, a price-to-earnings-growth ratio of 3.89 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. equities research analysts anticipate that Chevron Corporation will post 4.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors 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 yield of 3.57%. The ex-dividend date is Thursday, November 16th. Chevron’s payout ratio is 125.95%.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the transaction, the chief financial officer now directly owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,000 shares of company stock worth $36,540,822. 0.38% of the stock is currently owned by corporate insiders.

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About Chevron

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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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