BTC Capital Management Inc. Has $9.34 Million Stake in Chevron Corporation (CVX)
BTC Capital Management Inc. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,478 shares of the oil and gas company’s stock after selling 374 shares during the quarter. Chevron Corporation comprises about 1.7% of BTC Capital Management Inc.’s portfolio, making the stock its 10th biggest position. BTC Capital Management Inc.’s holdings in Chevron Corporation were worth $9,341,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CVX. Shine Investment Advisory Services Inc. bought a new stake in Chevron Corporation in the 2nd quarter valued at about $106,000. Thompson Davis & CO. Inc. increased its position in Chevron Corporation 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. increased its position in Chevron Corporation 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. increased its position in Chevron Corporation 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, New Capital Management LP increased its position in Chevron Corporation by 0.3% in the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4 shares in the last quarter. 62.91% of the stock is currently owned by institutional investors.
Chevron Corporation (NYSE CVX) opened at $117.18 on Friday. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $120.89. 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 capitalization of $222,682.59, a P/E ratio of 32.84, a P/E/G ratio of 3.92 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Chevron Corporation’s revenue for the quarter was up 20.1% on a year-over-year basis. equities analysts expect that Chevron Corporation will post 4.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.69%. Chevron Corporation’s payout ratio is 125.95%.
A number of analysts recently commented on the company. Zacks Investment Research raised Chevron Corporation from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Friday. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Chevron Corporation in a research report on Saturday, September 16th. Citigroup Inc. decreased their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $122.00 target price on shares of Chevron Corporation in a research report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $120.63.
In related news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,041 shares of company stock worth $3,453,285. 0.38% of the stock is owned by company insiders.
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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