Fagan Associates Inc. increased its stake in Chevron Corp. (NYSE:CVX) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 7,631 shares of the company’s stock after buying an additional 37 shares during the period. Fagan Associates Inc.’s holdings in Chevron Corp. were worth $800,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. RPg Family Wealth Advisory LLC boosted its stake in shares of Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock valued at $101,000 after buying an additional 134 shares in the last quarter. Marshall & Sullivan Inc. WA boosted its stake in shares of Chevron Corp. by 4.0% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,825 shares of the company’s stock valued at $174,000 after buying an additional 71 shares in the last quarter. Carnick & Kubik LLC acquired a new stake in shares of Chevron Corp. during the first quarter valued at about $188,000. Exane Derivatives boosted its stake in shares of Chevron Corp. by 57.3% in the first quarter. Exane Derivatives now owns 1,994 shares of the company’s stock valued at $190,000 after buying an additional 726 shares in the last quarter. Finally, Sterling Investment Advisors LLC ADV acquired a new stake in shares of Chevron Corp. during the second quarter valued at about $203,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.09% on Friday, reaching $102.27. 5,844,492 shares of the company’s stock traded hands. The company has a 50 day moving average of $100.97 and a 200-day moving average of $101.05. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The stock’s market capitalization is $192.93 billion.
Chevron Corp. (NYSE:CVX) last posted its earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. Equities research analysts forecast 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. Stockholders of record on Friday, August 19th were given a dividend of $1.07 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.19%. Chevron Corp.’s payout ratio is currently -1,097.44%.
Several analysts recently issued reports on CVX shares. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective for the company in a research note on Monday, October 3rd. Vetr raised shares of Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 price objective for the company in a research note on Wednesday, September 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $117.00 price objective on shares of Chevron Corp. in a research note on Monday, September 26th. Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a research note on Tuesday, September 6th. Finally, Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a research note on Friday, August 5th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Chevron Corp. presently has an average rating of “Buy” and a consensus price target of $105.53.
In other news, Director Inge G. Thulin bought 487 shares of Chevron Corp. stock in a transaction dated Monday, August 15th. The shares were acquired at an average cost of $102.87 per share, with a total value of $50,097.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeanette L. Ourada sold 7,000 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $101.70, for a total transaction of $711,900.00. Following the transaction, the insider now directly owns 7,535 shares in the company, valued at $766,309.50. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
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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