Chevron Corporation (CVX) Shares Bought by Bp Plc
Bp Plc raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,000 shares of the oil and gas company’s stock after purchasing an additional 17,000 shares during the quarter. Chevron Corporation accounts for approximately 0.8% of Bp Plc’s investment portfolio, making the stock its 20th largest holding. Bp Plc’s holdings in Chevron Corporation were worth $22,746,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CVX. Harbour Capital Advisors LLC increased its stake in shares of Chevron Corporation by 10,213.3% during the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares during the period. State Street Corp increased its stake in shares of Chevron Corporation by 1.1% during 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 period. Karp Capital Management Corp purchased a new position in shares of Chevron Corporation during the first quarter valued at $77,388,000. Thomaspartners Inc. increased its stake in shares of Chevron Corporation by 30.5% during the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock valued at $302,271,000 after buying an additional 657,826 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Chevron Corporation during the first quarter valued at $37,785,000. Institutional investors and hedge funds own 62.90% of the company’s stock.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.75%. Chevron Corporation’s dividend payout ratio is presently 125.95%.
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In related news, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP R. Hewitt Pate sold 25,500 shares of the firm’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 approximately $3,060,000. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
CVX has been the topic of several research reports. Morgan Stanley raised their price target on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Barclays PLC raised their price target on Chevron Corporation 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 target on Chevron Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and cut their price target for the company from $124.00 to $102.00 in a research note on Monday, July 17th. Finally, Jefferies Group LLC set a $130.00 price target on Chevron Corporation 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 assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $120.45.
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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