CCM Investment Advisers LLC Raises Stake in Chevron Corporation (CVX)
CCM Investment Advisers LLC increased its stake in Chevron Corporation (NYSE:CVX) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 74,334 shares of the oil and gas company’s stock after buying an additional 1,514 shares during the period. CCM Investment Advisers LLC’s holdings in Chevron Corporation were worth $7,981,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Congress Asset Management Co. MA bought a new position in Chevron Corporation during the fourth quarter valued at about $39,458,000. Capital International Inc. CA raised its stake in shares of Chevron Corporation by 55.3% in the fourth quarter. Capital International Inc. CA now owns 36,686 shares of the oil and gas company’s stock valued at $4,318,000 after buying an additional 13,070 shares during the period. Capital International Ltd. CA raised its stake in shares of Chevron Corporation by 7.3% in the fourth quarter. Capital International Ltd. CA now owns 138,818 shares of the oil and gas company’s stock valued at $16,339,000 after buying an additional 9,386 shares during the period. L & S Advisors Inc acquired a new stake in shares of Chevron Corporation during the fourth quarter valued at $693,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of Chevron Corporation during the fourth quarter valued at $8,345,000. Institutional investors own 62.75% of the company’s stock.
Shares of Chevron Corporation (NYSE:CVX) traded down 0.11% during trading on Wednesday, hitting $107.37. 1,217,478 shares of the stock were exchanged. The firm has a market capitalization of $203.47 billion, a P/E ratio of 34.82 and a beta of 1.23. The firm has a 50 day moving average price of $106.24 and a 200 day moving average price of $107.52. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. Chevron Corporation also was the target of unusually large options trading activity on Tuesday. Traders bought 35,638 call options on the stock. This represents an increase of 544% compared to the typical daily volume of 5,534 call options.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. During the same period last year, the company earned ($0.78) EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.98%. Chevron Corporation’s dividend payout ratio is presently 140.26%.
CVX has been the topic of several recent research reports. Macquarie lowered shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research report on Wednesday, June 21st. TheStreet upgraded shares of Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. BidaskClub lowered shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company lowered shares of Chevron Corporation to an “outperform” rating and decreased their target price for the company from $124.00 to $102.00 in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Chevron Corporation presently has a consensus rating of “Buy” and an average price target of $116.80.
In related news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation 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 disclosure for this sale can be found here. 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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