New England Asset Management Inc. reduced its position in shares of Chevron Corporation (NYSE:CVX) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,826 shares of the oil and gas company’s stock after selling 3,900 shares during the period. Chevron comprises about 0.1% of New England Asset Management Inc.’s investment portfolio, making the stock its 21st biggest position. New England Asset Management Inc.’s holdings in Chevron were worth $4,572,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Pathstone Family Office LLC grew its position in shares of Chevron by 2.5% during the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 20 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Chevron during the 2nd quarter worth approximately $106,000. Thompson Davis & CO. Inc. grew its position in shares of Chevron by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares during the period. Winfield Associates Inc. grew its position in shares of Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the period. Finally, Acrospire Investment Management LLC grew its holdings in Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the period. 63.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (NYSE:CVX) opened at $120.42 on Tuesday. 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 company has a market cap of $227,772.92, a price-to-earnings ratio of 33.59, a PEG ratio of 3.97 and a beta of 1.21. Chevron Corporation has a 1 year low of $102.55 and a 1 year high of $122.30.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. research analysts forecast that Chevron Corporation will post 4.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, November 16th. Chevron’s dividend payout ratio is presently 125.95%.
CVX has been the subject of a number of analyst reports. Royal Bank of Canada set a $100.00 price objective on shares of Chevron and gave the company a “sell” rating in a report on Friday, August 18th. Jefferies Group restated a “buy” rating and set a $135.00 price objective 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. 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. Finally, UBS set a $105.00 price objective on shares of Chevron and gave the company a “neutral” rating in a report on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $121.22.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at $145,022. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last three months, insiders sold 314,000 shares of company stock worth $36,540,822. 0.38% of the stock is currently owned by insiders.
TRADEMARK VIOLATION WARNING: “New England Asset Management Inc. Has $4.57 Million Position in Chevron Corporation (CVX)” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2017/12/12/new-england-asset-management-inc-has-4-57-million-position-in-chevron-corporation-cvx.html.
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.
Receive News & Ratings for Chevron Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corporation and related companies with MarketBeat.com's FREE daily email newsletter.