Synovus Financial Corp increased its stake in shares of Chevron Corp. (NYSE:CVX) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,647 shares of the company’s stock after buying an additional 3,993 shares during the period. Synovus Financial Corp’s holdings in Chevron Corp. were worth $19,845,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Searle & CO. raised its position in Chevron Corp. by 4.3% in the first quarter. Searle & CO. now owns 7,240 shares of the company’s stock valued at $682,000 after buying an additional 300 shares during the period. Heritage Investors Management Corp increased its stake in shares of Chevron Corp. by 3.0% in the first quarter. Heritage Investors Management Corp now owns 145,675 shares of the company’s stock valued at $13,897,000 after buying an additional 4,207 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Chevron Corp. by 22.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 17,273 shares of the company’s stock valued at $1,648,000 after buying an additional 3,149 shares in the last quarter. Gradient Investments LLC increased its stake in shares of Chevron Corp. by 2.1% in the first quarter. Gradient Investments LLC now owns 49,521 shares of the company’s stock valued at $4,724,000 after buying an additional 1,023 shares in the last quarter. Finally, Tufton Capital Management increased its stake in shares of Chevron Corp. by 0.7% in the first quarter. Tufton Capital Management now owns 72,158 shares of the company’s stock valued at $6,884,000 after buying an additional 537 shares in the last quarter. Institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.63% during trading on Friday, hitting $102.92. The stock had a trading volume of 9,431,524 shares. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The company’s market cap is $194.16 billion. The stock’s 50 day moving average is $101.06 and its 200-day moving average is $100.84.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of $0.32 by $1.10. The business earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. Analysts forecast that Chevron Corp. will post $1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.16%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
Several equities research analysts have weighed in on CVX shares. Vetr raised Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 price target for the company in a report on Wednesday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $117.00 price target on shares of Chevron Corp. in a report on Monday, September 26th. Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a report on Tuesday, September 6th. Finally, Morgan Stanley reissued a “hold” rating and issued a $85.00 price target on shares of Chevron Corp. in a report on Wednesday, June 8th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $105.53.
In related news, insider Pierre R. Breber sold 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total value of $2,074,170.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $100.47, for a total value of $12,558,750.00. Following the completion of the transaction, the insider now directly owns 4,222 shares of the company’s stock, valued at $424,184.34. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
About Chevron Corp.
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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