Inspirion Wealth Advisors LLC Continues to Hold Stake in Chevron Corporation (NYSE:CVX)
Inspirion Wealth Advisors LLC held its position in Chevron Corporation (NYSE:CVX) during the second quarter, Holdings Channel reports. The institutional investor owned 1,942 shares of the oil and gas company’s stock at the end of the second quarter. Inspirion Wealth Advisors LLC’s holdings in Chevron Corporation were worth $203,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Davis & CO. Inc. boosted its position in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in Chevron Corporation during the fourth quarter valued at $139,000. Americafirst Capital Management LLC bought a new position in Chevron Corporation during the first quarter valued at $140,000. Daiwa SB Investments Ltd. boosted its position in Chevron Corporation by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 1,140 shares during the period. Finally, Tortoise Investment Management LLC boosted its position in Chevron Corporation by 46.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,329 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 421 shares during the period. Institutional investors own 62.58% of the company’s stock.
Shares of Chevron Corporation (NYSE CVX) traded down 0.80% during mid-day trading on Friday, reaching $109.23. The company had a trading volume of 3,382,960 shares. The stock has a market capitalization of $206.99 billion, a price-to-earnings ratio of 35.42 and a beta of 1.23. The firm has a 50-day moving average price of $106.01 and a 200-day moving average price of $107.75. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00.
Chevron Corporation (NYSE:CVX) last announced 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 company had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.78) EPS. Equities analysts expect that Chevron Corporation will post $3.80 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
Several research analysts recently weighed in on CVX shares. TheStreet upgraded shares of Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation restated a “buy” rating and issued a $135.00 price objective (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. Scotiabank set a $114.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Monday, May 1st. HSBC Holdings plc upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Finally, BMO Capital Markets set a $130.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $116.18.
In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
Chevron Corporation Company 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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