McQueen Ball & Associates Inc. Has $611,000 Position in Chevron Corp. (CVX)
McQueen Ball & Associates Inc. cut its stake in shares of Chevron Corp. (NYSE:CVX) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 5,824 shares of the company’s stock after selling 200 shares during the period. McQueen Ball & Associates Inc.’s holdings in Chevron Corp. were worth $611,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its stake in Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock valued at $10,513,045,000 after buying an additional 1,318,854 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted 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 in the last quarter. Fisher Asset Management LLC boosted 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 in the last quarter. Virginia Retirement System purchased a new position in shares of Chevron Corp. during the first quarter worth $77,306,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Chevron Corp. during the first quarter worth $55,733,000. 62.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.09% during mid-day trading on Friday, hitting $102.27. The company had a trading volume of 5,844,492 shares. The company has a 50-day moving average price of $100.97 and a 200-day moving average price of $101.05. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58. The company’s market capitalization is $192.93 billion.
Chevron Corp. (NYSE:CVX) last posted 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. The business earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. On average, equities analysts anticipate that Chevron Corp. will post $1.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a $1.07 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.19%. Chevron Corp.’s payout ratio is -1,097.44%.
A number of equities analysts recently weighed in on the company. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective on the stock. in a report on Monday, June 20th. Zacks Investment Research cut Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Jefferies Group reissued a “buy” rating and set a $116.00 price objective (up from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $105.00 price objective on shares of Chevron Corp. in a report on Saturday, August 13th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron Corp. presently has an average rating of “Buy” and an average target price of $105.53.
In other news, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was 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 owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph C. Geagea sold 26,000 shares of the firm’s stock in a transaction on 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 directly owns 13,000 shares of the company’s stock, valued at approximately $1,332,500. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
About Chevron Corp.
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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