Mayo Investment Advisers LLC continued to hold its stake in shares of Chevron Corp. (NYSE:CVX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the company’s stock at the end of the second quarter. Mayo Investment Advisers LLC’s holdings in Chevron Corp. were worth $1,153,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Chevron Corp. during the second quarter worth about $2,118,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Chevron Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,644,631 shares of the company’s stock worth $172,407,000 after buying an additional 11,249 shares during the period. Arizona State Retirement System increased its stake in shares of Chevron Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 730,403 shares of the company’s stock worth $69,680,000 after buying an additional 13,100 shares during the period. Howard Capital Management increased its stake in shares of Chevron Corp. by 1.2% in the second quarter. Howard Capital Management now owns 136,346 shares of the company’s stock worth $14,293,000 after buying an additional 1,676 shares during the period. Finally, Societe Generale acquired a new stake in shares of Chevron Corp. during the second quarter worth about $66,963,000. 62.24% of the stock is owned by institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.68% on Monday, hitting $103.99. The company’s stock had a trading volume of 2,108,222 shares. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The company’s market cap is $196.18 billion. The stock’s 50 day moving average is $100.97 and its 200-day moving average is $101.05.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ 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 in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was down 27.4% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corp. will post $1.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a $1.07 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a yield of 4.19%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
CVX has been the subject of a number of recent analyst reports. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price target for the company in a report on Monday, October 3rd. Vetr raised Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 target price for the company in a report on Wednesday, September 28th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $117.00 target price on shares of Chevron Corp. in a report on Monday, September 26th. Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a report on Tuesday, September 6th. Finally, Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Twelve equities research 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 company presently has a consensus rating of “Buy” and a consensus price target of $105.53.
In other Chevron Corp. news, Director Inge G. Thulin acquired 487 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average cost of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pierre R. Breber sold 21,000 shares of the 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 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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