CCM Investment Advisers LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 5.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,981 shares of the company’s stock after selling 4,353 shares during the quarter. CCM Investment Advisers LLC’s holdings in Chevron Corporation were worth $7,301,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron Corporation during the second quarter valued at $106,000. Thompson Davis & CO. Inc. lifted its holdings in shares of Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the company’s stock valued at $123,000 after acquiring an additional 191 shares during the period. Winfield Associates Inc. lifted its holdings in shares of Chevron Corporation by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the company’s stock valued at $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. lifted its holdings in shares of Chevron Corporation by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the company’s stock valued at $146,000 after acquiring an additional 1,140 shares during the period. Finally, New Capital Management LP lifted its holdings in shares of Chevron Corporation by 0.3% during the first quarter. New Capital Management LP now owns 1,455 shares of the company’s stock valued at $156,000 after acquiring an additional 4 shares during the period. 63.03% of the stock is owned by institutional investors.

CVX has been the subject of a number of analyst reports. Wolfe Research cut Chevron Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Zacks Investment Research cut Chevron Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Wells Fargo & Company cut Chevron Corporation to an “outperform” rating and cut their price objective for the company from $124.00 to $102.00 in a report on Monday, July 17th. Citigroup Inc. cut their price target on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, BidaskClub cut Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of C$120.63.

In other news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of C$107.38, for a total transaction of C$248,262.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction dated Monday, October 16th. The shares were sold at an average price of C$120.00, for a total value of C$3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at approximately C$3,060,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 50,000 shares of company stock valued at $6,590 and have sold 29,041 shares valued at $3,453,285. 0.38% of the stock is currently owned by insiders.

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Chevron Corporation (CVX) opened at C$117.18 on Monday. The stock has a market capitalization of $222,568.64, a PE ratio of 32.82, a PEG ratio of 3.91 and a beta of 1.22. Chevron Corporation has a 12-month low of C$102.55 and a 12-month high of C$120.89. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, October 27th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.99 by C$0.04. The company had revenue of C$36.21 billion during the quarter, compared to analyst estimates of C$34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. equities research analysts predict that Chevron Corporation will post 4.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. Chevron Corporation’s payout ratio is currently 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.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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