Oakworth Capital Inc. decreased its position in shares of Chevron Corp. (NYSE:CVX) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 17,006 shares of the company’s stock after selling 334 shares during the period. Chevron Corp. accounts for 0.6% of Oakworth Capital Inc.’s holdings, making the stock its 25th largest position. Oakworth Capital Inc.’s holdings in Chevron Corp. were worth $1,718,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in Chevron Corp. during the first quarter worth $334,000. Sigma Planning Corp increased its stake in Chevron Corp. by 4.4% in the first quarter. Sigma Planning Corp now owns 62,459 shares of the company’s stock worth $5,959,000 after buying an additional 2,621 shares during the last quarter. Traynor Capital Management Inc. increased its stake in Chevron Corp. by 9.6% in the first quarter. Traynor Capital Management Inc. now owns 7,454 shares of the company’s stock worth $711,000 after buying an additional 654 shares during the last quarter. V Wealth Management LLC purchased a new stake in Chevron Corp. during the first quarter worth $549,000. Finally, QUANTRES ASSET MANAGEMENT Ltd increased its stake in Chevron Corp. by 370.3% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 17,400 shares of the company’s stock worth $1,660,000 after buying an additional 13,700 shares during the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.29% during midday trading on Friday, hitting $101.08. 5,114,718 shares of the stock were exchanged. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $107.58. The firm’s 50-day moving average is $101.00 and its 200-day moving average is $101.27. The stock’s market cap is $190.69 billion.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ 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 had revenue of $29.28 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. Chevron Corp.’s revenue for the quarter was down 27.4% on a year-over-year basis. Equities research analysts predict that Chevron Corp. will post $1.31 earnings per share for the current year.
A number of equities research analysts have weighed in on CVX shares. Vetr downgraded Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target on the stock. in a research report on Monday, June 20th. Jefferies Group reiterated a “buy” rating and issued a $116.00 price objective (up previously from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Zacks Investment Research upgraded Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Tuesday, July 12th. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 price objective on shares of Chevron Corp. in a report on Thursday, July 28th. Finally, Piper Jaffray Cos. upgraded Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Chevron Corp. has a consensus rating of “Buy” and an average target price of $105.09.
In other news, insider Michael K. Wirth sold 125,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the transaction, the insider now directly owns 4,222 shares in the company, valued at $424,184.34. The transaction was disclosed in a legal filing with the SEC, 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. Insiders own 0.40% of the company’s stock.
Chevron Corp. Company Profile
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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