Chevron Corporation (CVX) Position Increased by MEMBERS Trust Co
MEMBERS Trust Co increased its stake in Chevron Corporation (NYSE:CVX) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,839 shares of the oil and gas company’s stock after purchasing an additional 462 shares during the period. Chevron accounts for about 0.1% of MEMBERS Trust Co’s portfolio, making the stock its 25th largest position. MEMBERS Trust Co’s holdings in Chevron were worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in CVX. Shine Investment Advisory Services Inc. acquired a new stake in Chevron in the 2nd quarter worth approximately $106,000. Thompson Davis & CO. Inc. boosted its stake in Chevron by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares in the last quarter. Winfield Associates Inc. lifted its stake in Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. lifted its stake in Chevron by 438.5% during 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 acquiring an additional 1,140 shares during the period. Finally, New Capital Management LP lifted its stake in Chevron by 0.3% during 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 acquiring an additional 4 shares during the period. Institutional investors own 63.93% of the company’s stock.
CVX has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Barclays lifted their price objective on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies set a $119.00 price objective on shares of Chevron and gave the company a “buy” rating in a research note on Friday, August 25th. Scotiabank restated a “buy” rating on shares of Chevron in a research note on Friday, September 15th. Finally, Jefferies Group set a $130.00 price objective on shares of Chevron and gave the company a “buy” rating in a research note on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $120.54.
Chevron Corporation (NYSE CVX) opened at $119.51 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market cap of $226,994.19, a P/E ratio of 33.48, a PEG ratio of 3.94 and a beta of 1.22. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $120.89.
Chevron (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 consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. sell-side analysts anticipate that Chevron Corporation will post 4.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 125.95%.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 290,750 shares of company stock valued at $33,774,072. Insiders own 0.38% of the company’s stock.
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Chevron 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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