State Board of Administration of Florida Retirement System increased its stake in Chevron Corp. (NYSE:CVX) by 19.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,763,694 shares of the company’s stock after buying an additional 451,434 shares during the period. Chevron Corp. comprises approximately 0.9% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 16th largest position. State Board of Administration of Florida Retirement System owned about 0.15% of Chevron Corp. worth $289,718,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CVX. Sit Investment Associates Inc. raised its stake in shares of Chevron Corp. by 9.9% in the first quarter. Sit Investment Associates Inc. now owns 7,245 shares of the company’s stock valued at $691,000 after buying an additional 650 shares in the last quarter. Acadian Asset Management LLC increased its position in Chevron Corp. by 8.6% in the first quarter. Acadian Asset Management LLC now owns 19,827 shares of the company’s stock valued at $1,891,000 after buying an additional 1,564 shares during the last quarter. Eastern Bank increased its position in Chevron Corp. by 14.6% in the first quarter. Eastern Bank now owns 223,473 shares of the company’s stock valued at $21,319,000 after buying an additional 28,443 shares during the last quarter. TNB Financial increased its position in Chevron Corp. by 6.6% in the first quarter. TNB Financial now owns 11,485 shares of the company’s stock valued at $1,096,000 after buying an additional 711 shares during the last quarter. Finally, Donald L. Hagan LLC increased its position in Chevron Corp. by 214.8% in the first quarter. Donald L. Hagan LLC now owns 9,333 shares of the company’s stock valued at $890,000 after buying an additional 6,368 shares during the last quarter. 62.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Corp. (NYSE:CVX) traded down 1.3624% on Tuesday, reaching $101.0542. 3,259,534 shares of the company’s stock traded hands. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The firm’s market cap is $190.64 billion. The stock has a 50-day moving average of $101.06 and a 200 day moving average of $100.97.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of $0.32 by $1.10. The firm had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. On average, equities research analysts expect that Chevron Corp. will post $1.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Wednesday, August 17th. Chevron Corp.’s payout ratio is -1,097.44%.
CVX has been the subject of several recent research reports. Vetr upgraded shares of Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 target price for the company in a research note on Wednesday, September 28th. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 target price for the company in a research note on Monday. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $117.00 target price on shares of Chevron Corp. in a research note on Monday, September 26th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research note on Friday, August 5th. Finally, Credit Suisse Group AG reiterated a “neutral” rating on shares of Chevron Corp. in a research note on Tuesday, September 6th. Eleven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Chevron Corp. currently has a consensus rating of “Buy” and an average price target of $105.53.
In other Chevron Corp. news, insider Michael K. Wirth sold 125,000 shares of Chevron Corp. stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.47, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pierre R. Breber sold 21,000 shares of Chevron Corp. stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total transaction of $2,074,170.00. The disclosure for this sale can be found here. Company 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.
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.