Papp L Roy & Associates reduced its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,720 shares of the oil and gas company’s stock after selling 2,093 shares during the period. Papp L Roy & Associates’ holdings in Chevron were worth $6,305,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Your Advocates Ltd. LLP acquired a new position in Chevron during the first quarter valued at approximately $25,000. Rational Advisors LLC boosted its position in Chevron by 116.3% during the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 121 shares during the last quarter. Curi Wealth Management LLC acquired a new position in Chevron during the fourth quarter valued at approximately $30,000. Joseph P. Lucia & Associates LLC acquired a new position in Chevron during the first quarter valued at approximately $30,000. Finally, Landmark Wealth Management LLC acquired a new position in Chevron during the first quarter valued at approximately $34,000. 65.89% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Mark A. Nelson sold 117,400 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at approximately $125,662.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider David A. Inchausti sold 5,600 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark A. Nelson sold 117,400 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at $125,662.36. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock valued at $67,010,843 in the last three months. Insiders own 0.32% of the company’s stock.
Chevron Trading Up 1.7 %
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter last year, the business posted $1.71 EPS. Chevron’s revenue for the quarter was up 82.9% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 17.51 EPS for the current fiscal year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s dividend payout ratio is currently 37.89%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Bank of America increased their price target on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Credit Suisse Group upped their price objective on Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Cowen dropped their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $172.00 price objective on shares of Chevron in a research note on Thursday. Finally, Royal Bank of Canada lowered Chevron from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $173.00.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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