Markston International LLC Has $797,000 Position in Chevron Corporation (CVX)
Markston International LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 53.1% during the third quarter, Holdings Channel reports. The firm owned 7,746 shares of the company’s stock after selling 8,774 shares during the period. Markston International LLC’s holdings in Chevron Corporation were worth $797,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Shell Asset Management Co. raised its stake in shares of Chevron Corporation by 8.6% in the second quarter. Shell Asset Management Co. now owns 425,939 shares of the company’s stock valued at $44,651,000 after buying an additional 33,713 shares during the last quarter. Greatmark Investment Partners Inc. raised its stake in shares of Chevron Corporation by 0.5% in the third quarter. Greatmark Investment Partners Inc. now owns 36,644 shares of the company’s stock valued at $3,771,000 after buying an additional 189 shares during the last quarter. Rockland Trust Co. increased its position in Chevron Corporation by 10.2% in the third quarter. Rockland Trust Co. now owns 102,310 shares of the company’s stock worth $10,530,000 after buying an additional 9,429 shares during the period. Strs Ohio increased its position in Chevron Corporation by 0.4% in the second quarter. Strs Ohio now owns 2,051,577 shares of the company’s stock worth $215,066,000 after buying an additional 8,006 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Chevron Corporation by 3.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 322,427 shares of the company’s stock worth $33,800,000 after buying an additional 11,852 shares during the period. Hedge funds and other institutional investors own 61.06% of the company’s stock.
Shares of Chevron Corporation (NYSE:CVX) traded up 0.19% during midday trading on Friday, hitting $116.38. The company had a trading volume of 4,952,967 shares. Chevron Corporation has a 1-year low of $75.33 and a 1-year high of $119.00. The stock has a 50 day moving average price of $115.80 and a 200 day moving average price of $106.15. The firm’s market capitalization is $219.70 billion.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, October 28th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.29. Chevron Corporation had a negative net margin of 1.34% and a positive return on equity of 0.59%. The company earned $30.14 billion during the quarter, compared to analysts’ expectations of $29.71 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities analysts anticipate that Chevron Corporation will post $1.37 EPS for the current fiscal year.
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A number of research firms recently weighed in on CVX. Goldman Sachs Group, Inc. (The) raised Chevron Corporation to a “buy” rating in a research note on Sunday, December 18th. HSBC downgraded Chevron Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research note on Tuesday. Independent Research GmbH raised Chevron Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, December 1st. Jefferies Group reaffirmed a “buy” rating and set a $120.00 price target (up from $116.00) on shares of Chevron Corporation in a research note on Tuesday, November 1st. Finally, Macquarie raised Chevron Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $90.00 to $130.00 in a research note on Thursday, December 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $110.73.
In other news, Director Linnet F. Deily sold 5,637 shares of Chevron Corporation stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total value of $593,406.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pierre R. Breber sold 10,000 shares of Chevron Corporation stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the insider now owns 28,911 shares in the company, valued at approximately $3,180,210. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
About Chevron Corporation
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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