TD Asset Management Inc. lowered its position in shares of Chevron Corp. (NYSE:CVX) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,877,562 shares of the company’s stock after selling 1,220 shares during the period. TD Asset Management Inc. owned about 0.10% of Chevron Corp. worth $196,824,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Emerald Acquisition Ltd. bought a new position in shares of Chevron Corp. during the second quarter worth approximately $227,457,000. State Street Corp increased its position in shares of 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 during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of 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 during the last quarter. Standard Life Investments LTD increased its position in shares of Chevron Corp. by 244.4% in the second quarter. Standard Life Investments LTD now owns 1,342,463 shares of the company’s stock worth $140,723,000 after buying an additional 952,718 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Chevron Corp. by 30.6% in the first quarter. Fisher Asset Management LLC now owns 3,637,927 shares of the company’s stock worth $353,716,000 after buying an additional 851,977 shares during the last quarter. 62.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.58% during trading on Friday, reaching $102.77. The company had a trading volume of 2,829,888 shares. The firm has a 50-day moving average of $101.01 and a 200 day moving average of $101.01. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58. The firm’s market capitalization is $193.88 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $1.10. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The business earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter last year, the business earned $0.30 earnings per share. Chevron Corp.’s revenue for the quarter was down 27.4% on a year-over-year basis. Analysts expect that Chevron Corp. will post $1.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a $1.07 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.19%. Chevron Corp.’s dividend payout ratio is presently -1,097.44%.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Tuesday, July 12th. Jefferies Group boosted their target price on shares of Chevron Corp. from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, July 12th. Vetr downgraded shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $107.24 target price for the company. in a research report on Thursday, August 18th. Barclays PLC reissued an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a research report on Thursday, July 28th. Finally, BMO Capital Markets assumed coverage on shares of Chevron Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price for the company. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $105.53.
In other 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 acquired at an average cost of $102.87 per share, with a total value of $50,097.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeanette L. Ourada sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $101.70, for a total transaction of $711,900.00. Following the completion of the transaction, the insider now directly owns 7,535 shares of the company’s stock, valued at $766,309.50. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate 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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