United Bank VA Has $3.77 Million Holdings in Chevron Corporation (CVX)
United Bank VA raised its stake in Chevron Corporation (NYSE:CVX) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,169 shares of the oil and gas company’s stock after purchasing an additional 3,119 shares during the quarter. Chevron makes up about 3.7% of United Bank VA’s portfolio, making the stock its 14th biggest holding. United Bank VA’s holdings in Chevron were worth $3,773,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farmers National Bank lifted its position in shares of Chevron by 16.2% in the second quarter. Farmers National Bank now owns 38,531 shares of the oil and gas company’s stock valued at $4,020,000 after buying an additional 5,359 shares during the last quarter. Kimelman & Baird LLC lifted its holdings in Chevron by 0.8% during the 2nd quarter. Kimelman & Baird LLC now owns 68,768 shares of the oil and gas company’s stock worth $7,175,000 after purchasing an additional 577 shares during the last quarter. RNC Capital Management LLC lifted its holdings in Chevron by 2.8% during the 2nd quarter. RNC Capital Management LLC now owns 363,790 shares of the oil and gas company’s stock worth $37,954,000 after purchasing an additional 9,763 shares during the last quarter. WFG Advisors LP lifted its holdings in Chevron by 17.4% during the 2nd quarter. WFG Advisors LP now owns 36,357 shares of the oil and gas company’s stock worth $3,793,000 after purchasing an additional 5,386 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Chevron by 24.7% during the 2nd quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock worth $68,894,000 after purchasing an additional 130,990 shares during the last quarter. 63.93% of the stock is owned by institutional investors.
In other news, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the transaction, the chief financial officer now owns 39,506 shares in the company, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock valued at $36,540,822 over the last ninety days. Insiders own 0.38% of the company’s stock.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. equities research analysts anticipate that Chevron Corporation will post 4.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were issued a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.61%. Chevron’s dividend payout ratio is presently 125.95%.
CVX has been the subject of several research reports. TheStreet raised Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Jefferies Group set a $130.00 price target on Chevron and gave the stock a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price target on Chevron and gave the stock a “buy” rating in a report on Friday, August 25th. Credit Suisse Group set a $123.00 price target on Chevron and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $123.00 price target (up from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $121.22.
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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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