Brandywine Global Investment Management LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,810,245 shares of the oil and gas company’s stock after acquiring an additional 129,566 shares during the quarter. Chevron accounts for about 1.2% of Brandywine Global Investment Management LLC’s holdings, making the stock its 13th biggest position. Brandywine Global Investment Management LLC owned about 0.10% of Chevron worth $188,863,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in CVX. Shine Investment Advisory Services Inc. purchased a new stake in Chevron in the 2nd quarter valued at approximately $106,000. Thompson Davis & CO. Inc. lifted its stake in Chevron by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares in the last quarter. Winfield Associates Inc. lifted its stake in Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. lifted its stake in Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 1,140 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 800 shares in the last quarter. 63.93% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Credit Suisse Group set a $123.00 target price on Chevron and gave the company a “buy” rating in a research note on Friday, August 25th. Barclays raised Chevron to an “overweight” rating in a research note on Wednesday, October 11th. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $124.92 target price on the stock. in a research note on Monday, October 16th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research note on Friday, November 17th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $121.22.
Chevron Corporation (NYSE CVX) opened at $119.92 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $227,222.09, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 3.96 and a beta of 1.21. Chevron Corporation has a twelve month low of $102.55 and a twelve month high of $122.30.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. equities research analysts anticipate that Chevron Corporation will post 4.32 earnings per share 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 issued a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.60%. Chevron’s payout ratio is 125.95%.
In other news, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the completion of the sale, the chief financial officer now directly owns 39,506 shares in the company, valued at approximately $4,554,646.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the sale, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,000 shares of company stock valued at $36,540,822. Insiders own 0.38% of the company’s stock.
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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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