Community Bank N.A. lifted its stake in Chevron Corporation (NYSE:CVX) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,563 shares of the oil and gas company’s stock after buying an additional 4,347 shares during the period. Community Bank N.A.’s holdings in Chevron were worth $3,813,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Harbour Capital Advisors LLC boosted its position in shares of Chevron by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after purchasing an additional 5,653,686 shares in the last quarter. State Street Corp raised its holdings in Chevron by 1.1% in the 1st quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after acquiring an additional 1,261,078 shares during the last quarter. Boston Partners raised its holdings in Chevron by 17.9% in the 2nd quarter. Boston Partners now owns 7,147,113 shares of the oil and gas company’s stock worth $745,659,000 after acquiring an additional 1,084,757 shares during the last quarter. First Trust Advisors LP raised its holdings in 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 acquiring an additional 922,316 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Chevron in the 1st quarter worth approximately $77,388,000. Institutional investors own 63.93% of the company’s stock.
A number of equities analysts recently weighed in on the stock. UBS set a $120.00 price objective on shares of Chevron and gave the stock a “neutral” rating in a report on Monday. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Cowen reiterated a “buy” rating and set a $122.00 target price on shares of Chevron in a research note on Tuesday, September 19th. TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Finally, 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $121.22.
Shares of Chevron Corporation (NYSE:CVX) traded down $0.45 during trading hours on Tuesday, hitting $120.39. 4,380,517 shares of the stock were exchanged, compared to its average volume of 5,626,184. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron Corporation has a fifty-two week low of $102.55 and a fifty-two week high of $122.30. The stock has a market capitalization of $230,000.00, a price-to-earnings ratio of 33.48, a PEG ratio of 3.89 and a beta of 1.21.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 5.83% and a return on equity of 5.35%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. sell-side analysts expect that Chevron Corporation will post 4.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.59%. Chevron’s dividend payout ratio (DPR) is 125.95%.
In related news, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 314,000 shares of company stock valued at $36,540,822. 0.38% of the stock is owned by 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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