Chevron Corporation (NYSE:CVX) Shares Sold by Keel Point LLC
Keel Point LLC lowered its position in Chevron Corporation (NYSE:CVX) by 17.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,745 shares of the oil and gas company’s stock after selling 587 shares during the period. Keel Point LLC’s holdings in Chevron Corporation were worth $295,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CVX. Cheviot Value Management LLC increased its stake in Chevron Corporation by 9.2% in the fourth quarter. Cheviot Value Management LLC now owns 35,407 shares of the oil and gas company’s stock worth $4,167,000 after buying an additional 2,979 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Chevron Corporation during the fourth quarter worth $324,000. Freestone Capital Holdings LLC increased its stake in Chevron Corporation by 4.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 36,177 shares of the oil and gas company’s stock worth $4,258,000 after buying an additional 1,706 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Chevron Corporation by 13.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 738,369 shares of the oil and gas company’s stock worth $86,906,000 after buying an additional 88,546 shares in the last quarter. Finally, Pacific Global Investment Management CO increased its stake in Chevron Corporation by 3.6% in the fourth quarter. Pacific Global Investment Management CO now owns 25,486 shares of the oil and gas company’s stock worth $3,000,000 after buying an additional 877 shares in the last quarter. 62.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (NYSE:CVX) traded down 0.09% during trading on Friday, hitting $110.01. The stock had a trading volume of 947,548 shares. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The firm has a 50 day moving average price of $105.87 and a 200-day moving average price of $107.79. The stock has a market capitalization of $208.47 billion, a price-to-earnings ratio of 35.67 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.78) earnings per share. On average, equities research analysts forecast that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.
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A number of equities research analysts have recently weighed in on CVX shares. Macquarie downgraded Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price for the company. in a report on Wednesday, June 21st. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a report on Tuesday, May 2nd. Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Vetr raised Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price target for the company in a research note on Friday, April 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Chevron Corporation presently has an average rating of “Buy” and a consensus target price of $116.18.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.
About Chevron Corporation
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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