Chevron Corporation (CVX) Shares Bought by Lynch & Associates IN
Lynch & Associates IN boosted its holdings in Chevron Corporation (NYSE:CVX) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,659 shares of the oil and gas company’s stock after buying an additional 2,002 shares during the quarter. Chevron makes up 2.2% of Lynch & Associates IN’s holdings, making the stock its 13th biggest holding. Lynch & Associates IN’s holdings in Chevron were worth $5,600,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. HPM Partners LLC increased its holdings in Chevron by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 25,691 shares in the last quarter. Lincoln National Corp increased its holdings in Chevron by 33.3% in the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after purchasing an additional 20,615 shares in the last quarter. Korea Investment CORP increased its holdings in Chevron by 5.1% in the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after purchasing an additional 72,173 shares in the last quarter. Adams Natural Resources Fund Inc. increased its holdings in Chevron by 8.8% in the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after purchasing an additional 48,100 shares in the last quarter. Finally, Strategic Financial Group LLC increased its holdings in Chevron by 6.0% in the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares in the last quarter. 63.77% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the transaction, the chief financial officer now directly owns 17,981 shares in the company, valued at $2,067,994.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,000 shares of company stock valued at $36,540,822. 0.38% of the stock is owned by company insiders.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities research analysts predict that Chevron Corporation will post 4.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s payout ratio is 125.95%.
A number of equities research analysts have commented on the company. J P Morgan Chase & Co reissued an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Credit Suisse Group assumed coverage on Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price objective for the company. Cowen reissued a “buy” rating and issued a $122.00 price objective on shares of Chevron in a research note on Tuesday, September 19th. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Finally, BMO Capital Markets cut Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 target price on the stock. in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $121.22.
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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