Jag Capital Management LLC raised its stake in Chevron Corp. (NYSE:CVX) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 4,391 shares of the company’s stock after buying an additional 10 shares during the period. Jag Capital Management LLC’s holdings in Chevron Corp. were worth $460,000 as of its most recent SEC filing.
Several other large investors 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 valued at 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 valued at $172,407,000 after buying an additional 11,249 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 valued at $14,293,000 after buying an additional 1,676 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 valued at $69,680,000 after buying an additional 13,100 shares during the period. Finally, First Quadrant L P CA increased its stake in shares of Chevron Corp. by 0.8% in the second quarter. First Quadrant L P CA now owns 245,387 shares of the company’s stock valued at $25,724,000 after buying an additional 2,042 shares during the period. Institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.67% during midday trading on Monday, hitting $103.98. The company’s stock had a trading volume of 5,982,741 shares. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58. The stock’s 50 day moving average is $101.02 and its 200-day moving average is $101.21. The firm’s market cap is $196.16 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data 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 negative net margin of 0.64% and a positive return on equity of 1.07%. The firm earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the previous year, the company posted $0.30 EPS. Chevron Corp.’s revenue for the quarter was down 27.4% on a year-over-year basis. Equities analysts predict that Chevron Corp. will post $1.31 EPS for the current fiscal year.
The company also recently disclosed 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 yield of 4.12%. Chevron Corp.’s payout ratio is -1,097.44%.
Several equities research analysts have issued reports on CVX shares. Zacks Investment Research upgraded 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 price objective for the company in a research report 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 report on Monday, September 26th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Thirteen 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 stock. The company currently has an average rating of “Buy” and an average target price of $105.39.
In related news, insider Pierre R. Breber sold 21,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total value of $2,074,170.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael K. Wirth sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $100.47, for a total value of $12,558,750.00. Following the completion of the transaction, 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 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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