Barrett Asset Management LLC Raises Position in Chevron Corporation (CVX)
Barrett Asset Management LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,815 shares of the oil and gas company’s stock after buying an additional 1,110 shares during the quarter. Barrett Asset Management LLC’s holdings in Chevron Corporation were worth $3,945,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. HPM Partners LLC increased its holdings in Chevron Corporation by 197.0% in the 1st quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after buying an additional 25,691 shares during the period. Lincoln National Corp increased its holdings in Chevron Corporation by 33.3% in the 1st quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after buying an additional 20,615 shares during the period. Adams Natural Resources Fund Inc. grew its stake in shares of Chevron Corporation by 8.8% during the 2nd quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after purchasing an additional 48,100 shares during the period. Korea Investment CORP grew its stake in shares of Chevron Corporation by 5.1% during the 2nd quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after purchasing an additional 72,173 shares during the period. Finally, Strategic Financial Group LLC grew its stake in shares of Chevron Corporation by 6.0% during the 1st quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares during the period. Institutional investors own 62.90% of the company’s stock.
In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.
CVX has been the topic of a number of analyst reports. TheStreet raised shares of Chevron Corporation from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. BMO Capital Markets set a $120.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Sunday, July 30th. Citigroup Inc. dropped their price objective on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Scotiabank set a $115.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $120.45.
Chevron Corporation (NYSE:CVX) last posted its 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 for the quarter, compared to analyst estimates of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. Chevron Corporation’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share.
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 issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is 125.95%.
Chevron Corporation Company Profile
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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