Rockefeller Financial Services Inc. Acquires 19,472 Shares of Chevron Corp. (CVX)
Rockefeller Financial Services Inc. boosted its position in Chevron Corp. (NYSE:CVX) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,037,539 shares of the company’s stock after buying an additional 19,472 shares during the period. Chevron Corp. accounts for 2.2% of Rockefeller Financial Services Inc.’s investment portfolio, making the stock its 15th largest position. Rockefeller Financial Services Inc.’s holdings in Chevron Corp. were worth $108,765,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Meritage Portfolio Management increased its position in shares of Chevron Corp. by 0.9% in the second quarter. Meritage Portfolio Management now owns 64,891 shares of the company’s stock worth $6,802,000 after buying an additional 590 shares during the last quarter. Farmers Trust Co. increased its position in shares of Chevron Corp. by 88.6% in the second quarter. Farmers Trust Co. now owns 36,418 shares of the company’s stock worth $3,817,000 after buying an additional 17,112 shares during the last quarter. Lynch & Associates IN increased its position in shares of Chevron Corp. by 17.4% in the second quarter. Lynch & Associates IN now owns 40,374 shares of the company’s stock worth $4,232,000 after buying an additional 5,982 shares during the last quarter. Howard Capital Management increased its position in shares of Chevron Corp. by 1.2% in the second quarter. Howard Capital Management now owns 136,346 shares of the company’s stock worth $14,293,000 after buying an additional 1,676 shares during the last quarter. Finally, TNB Financial increased its position in shares of Chevron Corp. by 1.6% in the second quarter. TNB Financial now owns 11,669 shares of the company’s stock worth $1,223,000 after buying an additional 184 shares during the last quarter. 62.24% of the stock is owned by institutional investors.
Chevron Corp. (NYSE:CVX) traded up 1.67% during midday trading on Monday, reaching $103.98. The company had a trading volume of 5,982,741 shares. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The stock has a 50-day moving average price of $101.02 and a 200 day moving average price of $101.21. The company’s market capitalization is $196.16 billion.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 last year, the business earned $0.30 EPS. The company’s revenue was down 27.4% compared to the same quarter last year. Equities analysts forecast that Chevron Corp. will post $1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Wednesday, August 17th. Chevron Corp.’s dividend payout ratio (DPR) is -1,097.44%.
A number of brokerages recently weighed in on CVX. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price objective on shares of Chevron Corp. in a research note on Monday. Exane BNP Paribas began coverage on Chevron Corp. in a research note on Monday. They issued a “neutral” rating and a $102.00 price objective on the stock. Zacks Investment Research downgraded Chevron Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Vetr raised Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 price target on the stock in a research report on Wednesday, September 28th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $117.00 price target on shares of Chevron Corp. in a research report on Monday, September 26th. Thirteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.39.
In related 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 transaction of $12,558,750.00. Following 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 document filed with the SEC, which is available at this hyperlink. Also, Director Inge G. Thulin acquired 487 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were purchased at an average cost of $102.87 per share, for a total transaction of $50,097.69. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.
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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