Chevron Corporation (CVX) Stake Increased by California Capital Advisors Inc.
California Capital Advisors Inc. grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,933 shares of the oil and gas company’s stock after acquiring an additional 159 shares during the period. Chevron Corporation comprises about 2.0% of California Capital Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. California Capital Advisors Inc.’s holdings in Chevron Corporation were worth $1,349,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CVX. HPM Partners LLC grew its stake in Chevron Corporation 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 grew its stake in Chevron Corporation 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 grew its stake in Chevron Corporation 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. grew its stake in Chevron Corporation 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 boosted its stake in Chevron Corporation by 6.0% in the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock valued at $964,000 after acquiring an additional 510 shares during the period. Institutional investors own 63.15% of the company’s stock.
CVX has been the subject of a number of research reports. UBS AG set a $105.00 target price on Chevron Corporation and gave the company a “neutral” rating in a research note on Wednesday, September 6th. Morgan Stanley lifted their target price on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Credit Suisse Group set a $123.00 target price on Chevron Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Citigroup Inc. lifted their target price on Chevron Corporation from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Jefferies Group LLC set a $130.00 target price 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 given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $120.54.
In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,060,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value 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 approximately $2,067,994.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,979 shares of company stock worth $20,905,804. 0.38% of the stock is owned by corporate insiders.
Shares of Chevron Corporation (CVX) opened at $116.51 on Friday. Chevron Corporation has a twelve month low of $102.55 and a twelve month high of $120.89. The company has a market capitalization of $220,156.44, a P/E ratio of 32.47, a P/E/G ratio of 3.82 and a beta of 1.22. 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 (NYSE:CVX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. analysts expect that Chevron Corporation will post 4.33 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.71%. Chevron Corporation’s payout ratio is 125.95%.
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Chevron Corporation 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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