Quadrant Capital Management LLC decreased its position in shares of Chevron Corp. (NYSE:CVX) by 44.4% during the second quarter, Holdings Channel reports. The institutional investor owned 18,034 shares of the company’s stock after selling 14,406 shares during the period. Chevron Corp. makes up approximately 1.6% of Quadrant Capital Management LLC’s holdings, making the stock its 29th largest position. Quadrant Capital Management LLC’s holdings in Chevron Corp. were worth $1,890,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock worth $10,513,045,000 after buying an additional 1,318,854 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Chevron Corp. by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 49,644,363 shares of the company’s stock worth $4,736,072,000 after buying an additional 987,259 shares during the period. Virginia Retirement System purchased a new position in Chevron Corp. during the first quarter worth about $77,306,000. NN Investment Partners Holdings N.V. purchased a new position in Chevron Corp. during the first quarter worth about $55,733,000. Finally, Teachers Advisors Inc. increased its position in Chevron Corp. by 12.5% in the first quarter. Teachers Advisors Inc. now owns 3,809,093 shares of the company’s stock worth $363,387,000 after buying an additional 423,496 shares during the period. Institutional investors own 62.24% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 0.29% during trading on Friday, reaching $101.08. The company had a trading volume of 5,114,718 shares. The firm’s market capitalization is $190.69 billion. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The company’s 50-day moving average is $101.00 and its 200 day moving average is $101.27.
Chevron Corp. (NYSE:CVX) last announced 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 negative net margin of 0.64% and a positive return on equity of 1.07%. 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 company earned $0.30 EPS. Chevron Corp.’s revenue was down 27.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corp. will post $1.31 EPS for the current year.
A number of equities analysts have issued reports on CVX shares. Credit Suisse Group AG reiterated a “neutral” rating on shares of Chevron Corp. in a report on Tuesday, September 6th. 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. 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. BMO Capital Markets started 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, Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $117.00 in a research note on Tuesday, August 9th. Thirteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Chevron Corp. has an average rating of “Buy” and an average price target of $105.89.
In other Chevron Corp. news, insider Jeanette L. Ourada sold 7,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,535 shares of the company’s stock, valued at $766,309.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $2,074,170.00. The disclosure for this sale can be found here. Company 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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