Chevron Corp. (CVX) Position Cut by Alexandria Capital LLC
Alexandria Capital LLC reduced its position in shares of Chevron Corp. (NYSE:CVX) by 2.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,042 shares of the company’s stock after selling 76 shares during the period. Alexandria Capital LLC’s holdings in Chevron Corp. were worth $319,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC boosted its stake in Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock valued at $101,000 after buying an additional 134 shares during the period. Marshall & Sullivan Inc. WA boosted its stake in Chevron Corp. by 4.0% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,825 shares of the company’s stock valued at $174,000 after buying an additional 71 shares during the period. Sterling Investment Advisors LLC ADV purchased a new stake in Chevron Corp. during the second quarter valued at $203,000. Swift Run Capital Management LLC purchased a new stake in Chevron Corp. during the second quarter valued at $204,000. Finally, Stillwater Capital Advisors LLC purchased a new stake in Chevron Corp. during the second quarter valued at $204,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.58% on Friday, hitting $102.77. The stock had a trading volume of 2,829,883 shares. Chevron Corp. has a one year low of $75.33 and a one year high of $107.58. The stock’s market cap is $193.88 billion. The company’s 50 day moving average is $101.01 and its 200 day moving average is $101.01.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Chevron Corp.’s quarterly revenue was down 27.4% compared to the same quarter last year. Equities research 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. Stockholders of record on Friday, August 19th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, August 17th. Chevron Corp.’s payout ratio is -1,097.44%.
Several analysts have recently weighed in on the company. Zacks Investment Research cut Chevron Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Vetr upgraded Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 target price on the stock in a report on Wednesday, September 28th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $117.00 target price on shares of Chevron Corp. in a report on Monday, September 26th. BMO Capital Markets initiated coverage on Chevron Corp. in a report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a report on Thursday, September 8th. Twelve equities 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 company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $105.53.
In other news, insider Michael K. Wirth sold 125,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 4,222 shares in the company, valued at $424,184.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Inge G. Thulin bought 487 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were 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 currently owned by 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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