Morse Asset Management Inc Has $1.28 Million Holdings in Chevron Corporation (CVX)
Morse Asset Management Inc lessened its stake in Chevron Corporation (NYSE:CVX) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,249 shares of the oil and gas company’s stock after selling 900 shares during the period. Morse Asset Management Inc’s holdings in Chevron Corporation were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. HPM Partners LLC grew its stake in shares of Chevron Corporation by 197.0% during the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after acquiring an additional 25,691 shares during the last quarter. Lincoln National Corp lifted its holdings in shares of Chevron Corporation by 33.3% during 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 during the period. Adams Natural Resources Fund Inc. lifted its holdings in shares of Chevron Corporation by 8.8% during 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 during the period. Korea Investment CORP lifted its holdings in shares of Chevron Corporation by 5.1% during 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 during the period. Finally, Strategic Financial Group LLC lifted its holdings in shares of Chevron Corporation by 6.0% during the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares during the period. Institutional investors own 62.91% of the company’s stock.
Shares of Chevron Corporation (NYSE:CVX) opened at $114.99 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The stock has a market capitalization of $218,409.00, a PE ratio of 32.21, a price-to-earnings-growth ratio of 3.90 and a beta of 1.22. Chevron Corporation has a 12-month low of $102.55 and a 12-month high of $120.89.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. equities research analysts expect that Chevron Corporation will post 4.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.76%. Chevron Corporation’s payout ratio is currently 125.95%.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Chevron Corporation from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a report on Tuesday, October 31st. Royal Bank Of Canada set a $100.00 target price on Chevron Corporation and gave the stock a “sell” rating in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $137.00 price target (up from $113.54) on shares of Chevron Corporation in a report on Monday, October 30th. Finally, BNP Paribas raised Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Chevron Corporation currently has an average rating of “Hold” and an average target price of $120.45.
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In other news, VP R. Hewitt Pate sold 25,500 shares of the 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 transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. 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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