Chevron Corporation (CVX) Shares Sold by Provident Trust Co.
Provident Trust Co. trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,600 shares of the oil and gas company’s stock after selling 28 shares during the quarter. Provident Trust Co.’s holdings in Chevron were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Shine Investment Advisory Services Inc. purchased a new position in Chevron during the 2nd quarter worth $106,000. Thompson Davis & CO. Inc. lifted its position in Chevron by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 191 shares during the period. Winfield Associates Inc. lifted its position 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 worth $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. lifted its position 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 worth $146,000 after acquiring an additional 1,140 shares during the period. Finally, New Capital Management LP lifted its position 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 worth $156,000 after acquiring an additional 4 shares during the period. Hedge funds and other institutional investors own 63.93% of the company’s stock.
In related news, VP R. Hewitt Pate sold 25,500 shares of Chevron 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 completion of the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,750 shares of company stock valued at $33,774,072. 0.38% of the stock is owned by company insiders.
Shares of Chevron Corporation (NYSE:CVX) traded up $0.52 during trading on Friday, hitting $119.51. The company had a trading volume of 6,831,814 shares, compared to its average volume of 5,618,823. 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 has a 1 year low of $102.55 and a 1 year high of $120.89. The stock has a market cap of $226,990.00, a price-to-earnings ratio of 32.62, a PEG ratio of 3.84 and a beta of 1.22.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the previous year, the business earned $0.68 EPS. Chevron’s revenue for the quarter was up 20.1% compared to the same quarter last year. sell-side analysts anticipate that Chevron Corporation will post 4.33 earnings per share for the current fiscal year.
The firm 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 $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.61%. Chevron’s dividend payout ratio is presently 125.95%.
CVX has been the subject of a number of research reports. UBS set a $105.00 price target on Chevron and gave the stock a “neutral” rating in a research report on Wednesday, September 6th. Morgan Stanley lifted their price target on Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Citigroup lifted their price target on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Credit Suisse Group set a $123.00 price target on Chevron and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Jefferies Group set a $130.00 price target on Chevron and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $120.54.
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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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