Sentry Investment Management LLC Lowers Holdings in Chevron Corporation (CVX)
Sentry Investment Management LLC lessened its position in shares of Chevron Corporation (NYSE:CVX) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,338 shares of the oil and gas company’s stock after selling 1,385 shares during the period. Sentry Investment Management LLC’s holdings in Chevron were worth $13,285,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. Pathstone Family Office LLC boosted its position in shares of Chevron by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 20 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of Chevron in the second quarter worth about $106,000. Thompson Davis & CO. Inc. boosted its position in shares of Chevron by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares during the period. Winfield Associates Inc. boosted its position in shares of Chevron by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the period. Finally, Daiwa SB Investments Ltd. boosted its position in shares of Chevron by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the period. 63.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (CVX) opened at $119.53 on Friday. Chevron Corporation has a one year low of $102.55 and a one year high of $122.30. The stock has a market capitalization of $227,791.91, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Chevron’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities research analysts expect that Chevron Corporation will post 4.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s payout ratio is currently 125.95%.
A number of brokerages recently commented on CVX. Credit Suisse Group began coverage on Chevron in a report on Monday. They issued a “neutral” rating and a $123.00 price target for the company. UBS set a $120.00 price target on Chevron and gave the company a “neutral” rating in a report on Monday, December 4th. Bank of America set a $125.00 price target on Chevron and gave the company a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Finally, Citigroup increased their price target on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $121.22.
In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares in the company, valued at $145,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock worth $36,540,822 in the last 90 days. 0.38% of the stock is currently owned by insiders.
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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