Kornitzer Capital Management Inc. KS lowered its stake in shares of Chevron Co. (NYSE:CVX) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 447,710 shares of the oil and gas company’s stock after selling 3,179 shares during the period. Chevron accounts for about 0.9% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 12th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Chevron were worth $56,604,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Live Your Vision LLC increased its position in shares of Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 616 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Chevron during the first quarter worth $110,000. Litman Gregory Asset Management LLC increased its position in shares of Chevron by 566.9% during the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 975 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. increased its position in shares of Chevron by 45.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 64.60% of the company’s stock.
In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total value of $569,857.50. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $569,857.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The business had revenue of $42.24 billion during the quarter, compared to analysts’ expectations of $46.62 billion. During the same period in the previous year, the company posted $0.77 earnings per share. Chevron’s revenue for the quarter was up 22.5% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 8.23 earnings per share for the current year.
A number of brokerages have recently issued reports on CVX. Berenberg Bank began coverage on Chevron in a research report on Tuesday, September 11th. They set a “hold” rating and a $135.00 price target on the stock. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and cut their target price for the company from $150.00 to $135.00 in a research report on Thursday, September 6th. Barclays upped their target price on Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $132.00 target price on Chevron and gave the company a “hold” rating in a research report on Sunday, July 1st. Finally, Royal Bank of Canada reissued a “neutral” rating and issued a $145.00 target price on shares of Chevron in a research report on Monday, July 2nd. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $137.17.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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