BARING ASSET MANAGEMENT Ltd lifted its stake in Chevron Corporation (NYSE:CVX) by 63.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,077 shares of the oil and gas company’s stock after buying an additional 38,156 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Chevron were worth $10,232,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in CVX. Harbour Capital Advisors LLC raised its stake in Chevron by 10,213.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares during the last quarter. State Street Corp raised its stake in Chevron by 1.1% during the 1st 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 raised its stake in Chevron by 17.9% during the 2nd 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 increased its stake in shares of Chevron by 204.4% in the 2nd quarter. First Trust Advisors LP now owns 1,373,511 shares of the oil and gas company’s stock worth $143,298,000 after purchasing an additional 922,316 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Chevron in the 1st quarter worth $77,388,000. Institutional investors own 63.93% of the company’s stock.
Shares of Chevron Corporation (NYSE CVX) traded down $0.45 on Tuesday, reaching $120.39. 4,380,517 shares of the company’s stock traded hands, compared to its average volume of 5,626,184. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $122.30. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $230,000.00, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 3.89 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 5.83% and a return on equity of 5.35%. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. research analysts anticipate that Chevron Corporation will post 4.39 earnings per share for the current fiscal 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 issued a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.59%. Chevron’s dividend payout ratio (DPR) is presently 125.95%.
CVX has been the subject of several analyst reports. BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research note on Monday, August 7th. Royal Bank Of Canada set a $100.00 target price on shares of Chevron and gave the stock a “sell” rating in a report on Friday, August 18th. Jefferies Group reaffirmed a “buy” rating and issued a $135.00 target price on shares of Chevron in a report on Wednesday, August 23rd. Credit Suisse Group set a $123.00 price objective on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Piper Jaffray Companies set a $119.00 price objective on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $121.22.
In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares in the company, valued at $145,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares in the company, valued at $2,067,994.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,000 shares of company stock valued at $36,540,822. 0.38% of the stock is currently owned by corporate insiders.
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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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