Hennessy Advisors Inc. decreased its position in Chevron Corp. (NYSE:CVX) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 87,550 shares of the company’s stock after selling 200 shares during the period. Hennessy Advisors Inc.’s holdings in Chevron Corp. were worth $9,178,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CVX. State Street Corp boosted its stake in Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock worth $10,513,045,000 after buying an additional 1,318,854 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Chevron Corp. by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 49,644,363 shares of the company’s stock worth $4,736,072,000 after buying an additional 987,259 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Chevron Corp. by 1.0% in the first quarter. BlackRock Fund Advisors now owns 30,669,148 shares of the company’s stock worth $2,925,837,000 after buying an additional 306,414 shares in the last quarter. Geode Capital Management LLC boosted its stake in Chevron Corp. by 2.2% in the first quarter. Geode Capital Management LLC now owns 15,718,173 shares of the company’s stock worth $1,496,560,000 after buying an additional 334,885 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in Chevron Corp. by 1.9% in the first quarter. BlackRock Group LTD now owns 15,615,464 shares of the company’s stock worth $1,489,715,000 after buying an additional 296,294 shares in the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 1.63% on Friday, reaching $102.92. The company had a trading volume of 9,431,524 shares. Chevron Corp. has a one year low of $75.33 and a one year high of $107.58. The company has a 50-day moving average of $101.06 and a 200 day moving average of $100.84. The stock’s market cap is $194.16 billion.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $1.10. The company had revenue of $29.28 billion for the quarter, compared to the consensus estimate of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The business’s revenue was down 27.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. On average, equities research analysts predict that Chevron Corp. will post $1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 annualized dividend and a yield of 4.16%. Chevron Corp.’s payout ratio is -1,097.44%.
CVX has been the subject of a number of recent research reports. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective for the company. in a research report on Monday, June 27th. Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a research note on Friday, August 5th. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research note on Thursday, July 28th. Simmons raised Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $110.00 to $117.00 in a research note on Tuesday, August 9th. Finally, Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a research note on Tuesday, September 6th. Twelve investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.53.
In other Chevron Corp. news, Director Inge G. Thulin bought 487 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average price of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael K. Wirth sold 125,000 shares of the 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 sale, the insider now owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
Chevron Corp. 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.
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corp. (NYSE:CVX).
Receive News & Ratings for Chevron Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corp. and related companies with MarketBeat.com's FREE daily email newsletter.