Adell Harriman & Carpenter Inc. Acquires 1,044 Shares of Chevron Corp. (CVX)
Adell Harriman & Carpenter Inc. raised its stake in Chevron Corp. (NYSE:CVX) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 26,166 shares of the company’s stock after buying an additional 1,044 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Chevron Corp. were worth $2,743,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in CVX. RPg Family Wealth Advisory LLC boosted its position 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 in the last quarter. Marshall & Sullivan Inc. WA boosted its position 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 in the last quarter. Carnick & Kubik LLC bought a new position in shares of Chevron Corp. during the first quarter worth about $188,000. Exane Derivatives boosted its position in shares of Chevron Corp. by 57.3% in the first quarter. Exane Derivatives now owns 1,994 shares of the company’s stock worth $190,000 after buying an additional 726 shares during the period. Finally, Sterling Investment Advisors LLC ADV bought a new position in shares of Chevron Corp. during the second quarter worth about $203,000. Institutional investors and hedge funds own 62.24% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded down 1.286% during midday trading on Wednesday, reaching $101.715. 1,558,758 shares of the company traded hands. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $107.58. The stock’s market capitalization is $191.89 billion. The firm has a 50 day moving average of $101.05 and a 200-day moving average of $101.22.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ 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 quarter in the prior year, the firm earned $0.30 EPS. The firm’s revenue was down 27.4% compared to the same quarter last year. Analysts forecast that Chevron Corp. will post $1.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.15%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
A number of brokerages have issued reports on CVX. Vetr cut shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 target price for the company. in a report on Monday, June 20th. Exane BNP Paribas began coverage on shares of Chevron Corp. in a report on Monday. They issued a “neutral” rating and a $102.00 target price for the company. Zacks Investment Research cut shares of Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $116.00 target price (up from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Thirteen research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $105.09.
In other news, insider Michael K. Wirth sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were 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 in the company, valued at $424,184.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pierre R. Breber sold 21,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $98.77, for a total transaction of $2,074,170.00. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
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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