Strategy Asset Managers LLC increased its stake in shares of Chevron Corp. (NYSE:CVX) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,810 shares of the company’s stock after buying an additional 617 shares during the period. Strategy Asset Managers LLC’s holdings in Chevron Corp. were worth $399,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Univest Corp of Pennsylvania increased its stake in Chevron Corp. by 0.3% in the second quarter. Univest Corp of Pennsylvania now owns 4,941 shares of the company’s stock worth $518,000 after buying an additional 14 shares in the last quarter. Barry Investment Advisors LLC boosted its position in shares of Chevron Corp. by 0.6% in the second quarter. Barry Investment Advisors LLC now owns 2,699 shares of the company’s stock valued at $283,000 after buying an additional 17 shares during the period. Alpha Windward LLC boosted its position in shares of Chevron Corp. by 0.9% in the second quarter. Alpha Windward LLC now owns 2,715 shares of the company’s stock valued at $285,000 after buying an additional 24 shares during the period. Stillwater Investment Management LLC boosted its position in shares of Chevron Corp. by 1.1% in the second quarter. Stillwater Investment Management LLC now owns 2,356 shares of the company’s stock valued at $247,000 after buying an additional 25 shares during the period. Finally, Paradigm Financial Advisors LLC boosted its position in shares of Chevron Corp. by 0.3% in the second quarter. Paradigm Financial Advisors LLC now owns 8,669 shares of the company’s stock valued at $908,000 after buying an additional 30 shares during the period. 62.24% of the stock is owned by institutional investors and hedge funds.
Chevron Corp. (NYSE:CVX) traded up 0.09% during mid-day trading on Friday, hitting $102.27. The stock had a trading volume of 5,844,492 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 price of $100.97 and a 200-day moving average price of $101.05. The company’s market cap is $192.93 billion.
Chevron Corp. (NYSE:CVX) last released 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 revenue for the quarter was down 27.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Equities analysts expect that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given 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%.
CVX has been the topic of several research analyst reports. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective on the stock. in a research note on Monday, June 27th. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective on the stock in a research note on Monday, October 3rd. 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 objective on shares of Chevron Corp. in a research note on Thursday, July 28th. Finally, Simmons raised Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $117.00 in a research report on Tuesday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron Corp. has a consensus rating of “Buy” and a consensus price target 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 shares were sold at an average price of $98.77, for a total transaction of $2,074,170.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the sale, the insider now owns 4,222 shares in the company, valued at approximately $424,184.34. The disclosure for this sale can be found here. 0.40% of the stock is currently 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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