Gemmer Asset Management LLC Has $1.34 Million Holdings in Chevron Corporation (CVX)
Gemmer Asset Management LLC raised its position in Chevron Corporation (NYSE:CVX) by 27.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,886 shares of the oil and gas company’s stock after purchasing an additional 2,746 shares during the period. Gemmer Asset Management LLC’s holdings in Chevron Corporation were worth $1,344,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. St. Johns Investment Management Company LLC boosted its holdings in Chevron Corporation by 2.9% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,849 shares of the oil and gas company’s stock valued at $1,028,000 after purchasing an additional 281 shares during the period. Iowa State Bank boosted its holdings in Chevron Corporation by 7.9% in the 2nd quarter. Iowa State Bank now owns 40,540 shares of the oil and gas company’s stock valued at $4,230,000 after purchasing an additional 2,962 shares during the period. Franklin Street Advisors Inc. NC boosted its holdings in Chevron Corporation by 6.3% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 77,914 shares of the oil and gas company’s stock valued at $8,129,000 after purchasing an additional 4,617 shares during the period. Chesley Taft & Associates LLC boosted its holdings in Chevron Corporation by 3.3% in the 2nd quarter. Chesley Taft & Associates LLC now owns 60,766 shares of the oil and gas company’s stock valued at $6,340,000 after purchasing an additional 1,934 shares during the period. Finally, Somerset Trust Co boosted its holdings in Chevron Corporation by 3.7% in the 2nd quarter. Somerset Trust Co now owns 12,299 shares of the oil and gas company’s stock valued at $1,283,000 after purchasing an additional 440 shares during the period. 62.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (NYSE:CVX) traded down 1.31% during trading on Friday, reaching $117.03. 3,533,322 shares of the company were exchanged. Chevron Corporation has a 1-year low of $99.61 and a 1-year high of $119.00. The stock’s 50 day moving average is $112.88 and its 200 day moving average is $107.92. The company has a market capitalization of $221.77 billion, a price-to-earnings ratio of 37.95 and a beta of 1.24.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.78) earnings per share. Equities analysts anticipate that Chevron Corporation will post $3.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a $1.08 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
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In other news, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the sale, 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. Insiders sold a total of 72,312 shares of company stock valued at $8,008,343 in the last 90 days. Company insiders own 0.38% of the company’s stock.
Several research analysts have commented on the stock. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. Barclays PLC reissued an “overweight” rating and issued a $125.00 price target (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Chevron Corporation in a report on Saturday, September 16th. Finally, Zacks Investment Research downgraded shares of Chevron Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $116.82.
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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