Bennicas & Associates Inc. Lowers Stake in Chevron Corporation (CVX)
Bennicas & Associates Inc. lowered its stake in Chevron Corporation (NYSE:CVX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,682 shares of the oil and gas company’s stock after selling 65 shares during the period. Chevron Corporation makes up about 1.5% of Bennicas & Associates Inc.’s holdings, making the stock its 21st largest position. Bennicas & Associates Inc.’s holdings in Chevron Corporation were worth $1,636,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares during the last quarter. Norges Bank purchased a new position in Chevron Corporation during the fourth quarter valued at about $2,183,692,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Chevron Corporation by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock valued at $614,268,000 after buying an additional 54,154 shares during the last quarter. Teachers Advisors LLC raised its position in Chevron Corporation by 14.9% in the fourth quarter. Teachers Advisors LLC now owns 4,416,166 shares of the oil and gas company’s stock valued at $519,783,000 after buying an additional 573,660 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Chevron Corporation by 4.0% in the second quarter. Fisher Asset Management LLC now owns 3,799,120 shares of the oil and gas company’s stock valued at $396,362,000 after buying an additional 147,750 shares during the last quarter. 62.75% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Corporation (NYSE:CVX) traded down 0.6989% on Tuesday, reaching $107.9502. The company had a trading volume of 2,030,998 shares. The stock has a 50 day moving average of $106.12 and a 200 day moving average of $107.56. The firm has a market capitalization of $204.57 billion, a PE ratio of 35.0033 and a beta of 1.23. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the prior year, the firm posted ($0.78) earnings per share. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post $3.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
CVX has been the topic of several research reports. Macquarie lowered Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research note on Wednesday, June 21st. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and reduced their price target for the company from $124.00 to $102.00 in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $116.80.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the sale, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
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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