Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Purchases New Stake in Chevron Corp. (CVX)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Chevron Corp. (NYSE:CVX) during the second quarter, Holdings Channel reports. The fund purchased 4,000 shares of the company’s stock, valued at approximately $419,000.
Several other institutional investors have also bought and sold shares of CVX. Emerald Acquisition Ltd. purchased a new position in shares of Chevron Corp. during the second quarter worth $227,457,000. State Street Corp raised its position in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 last quarter. Standard Life Investments LTD raised its position in shares of Chevron Corp. by 244.4% in the second quarter. Standard Life Investments LTD now owns 1,342,463 shares of the company’s stock worth $140,723,000 after buying an additional 952,718 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Chevron Corp. by 30.6% in the first quarter. Fisher Asset Management LLC now owns 3,637,927 shares of the company’s stock worth $353,716,000 after buying an additional 851,977 shares during the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.98% during trading on Wednesday, hitting $99.63. The company had a trading volume of 6,352,687 shares. Chevron Corp. has a 52 week low of $75.10 and a 52 week high of $107.58. The stock’s market capitalization is $187.95 billion. The firm’s 50 day moving average is $101.12 and its 200-day moving average is $100.50.
Chevron Corp. (NYSE:CVX) last issued its quarterly 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. The company earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The business’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. Equities research analysts anticipate that Chevron Corp. will post $1.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Wednesday, August 17th. Chevron Corp.’s payout ratio is -1,097.44%.
CVX has been the topic of a number of research reports. Jefferies Group reaffirmed a “buy” rating and set a $116.00 target price (up from $114.00) on shares of Chevron Corp. in a research report on Wednesday, July 6th. Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. BMO Capital Markets assumed coverage on Chevron Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $120.00 price target for the company. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research report on Thursday, July 28th. Finally, Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $110.00 to $117.00 in a research report on Tuesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.01.
In other Chevron Corp. news, insider Joseph C. Geagea sold 26,000 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $102.50, for a total value of $2,665,000.00. Following the completion of the sale, the insider now owns 13,000 shares in the company, valued at $1,332,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Inge G. Thulin purchased 487 shares of Chevron Corp. stock in a transaction on Monday, August 15th. The stock was bought at an average price of $102.87 per share, with a total value of $50,097.69. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.
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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