I.G. Investment Management LTD. decreased its stake in Chevron Corp. (NYSE:CVX) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 797,241 shares of the company’s stock after selling 16,659 shares during the period. I.G. Investment Management LTD.’s holdings in Chevron Corp. were worth $83,575,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp bought a new stake in Chevron Corp. during the second quarter worth about $2,118,000. Chevy Chase Trust Holdings Inc. raised its stake in 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 last quarter. Arizona State Retirement System raised its stake in 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 last quarter. Howard Capital Management raised its stake in 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 last quarter. Finally, Societe Generale bought a new stake in Chevron Corp. during the second quarter worth about $66,963,000. Institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.68% during trading on Monday, reaching $103.99. 2,107,852 shares of the company’s stock were exchanged. The company’s market capitalization is $196.18 billion. Chevron Corp. has a 52-week low of $75.33 and a 52-week 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.
Chevron Corp. (NYSE:CVX) last posted its 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. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The business had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was down 27.4% on a year-over-year basis. On average, equities analysts forecast that Chevron Corp. will post $1.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors 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 annualized dividend and a yield of 4.19%. Chevron Corp.’s dividend payout ratio is presently -1,097.44%.
A number of research firms recently issued reports on CVX. Zacks Investment Research lowered Chevron Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Vetr raised Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 target price on the stock in a research note on Wednesday, September 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $117.00 target price on shares of Chevron Corp. in a research note on Monday, September 26th. BMO Capital Markets began coverage on Chevron Corp. in a research note on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a research note on Thursday, September 8th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Chevron Corp. presently has an average rating of “Buy” and a consensus target price of $105.53.
In related news, insider Jeanette L. Ourada sold 7,000 shares of Chevron Corp. stock in a transaction that occurred 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 sale, the insider now directly owns 7,535 shares in the company, valued at approximately $766,309.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pierre R. Breber sold 21,000 shares of Chevron Corp. stock in a transaction that occurred 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. Corporate 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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