Concorde Asset Management LLC Sells 140 Shares of Chevron Corp. (CVX)
Concorde Asset Management LLC reduced its stake in shares of Chevron Corp. (NYSE:CVX) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,518 shares of the company’s stock after selling 140 shares during the period. Concorde Asset Management LLC’s holdings in Chevron Corp. were worth $264,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of CVX. Gillespie Robinson & Grimm Inc. boosted its position in shares of Chevron Corp. by 11.3% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 122,468 shares of the company’s stock valued at $11,908,000 after buying an additional 12,430 shares during the period. Country Trust Bank boosted its position in shares of Chevron Corp. by 8.1% in the first quarter. Country Trust Bank now owns 159,930 shares of the company’s stock valued at $15,257,000 after buying an additional 12,020 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Chevron Corp. during the first quarter valued at approximately $334,000. Sigma Planning Corp boosted its position in shares of Chevron Corp. by 4.4% in the first quarter. Sigma Planning Corp now owns 62,459 shares of the company’s stock valued at $5,959,000 after buying an additional 2,621 shares during the period. Finally, Traynor Capital Management Inc. boosted its position in shares of Chevron Corp. by 9.6% in the first quarter. Traynor Capital Management Inc. now owns 7,454 shares of the company’s stock valued at $711,000 after buying an additional 654 shares during the period. 62.24% of the stock is owned by institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.86% during midday trading on Wednesday, reaching $102.15. The company had a trading volume of 4,935,130 shares. The stock’s market capitalization is $192.71 billion. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The stock’s 50 day moving average is $101.05 and its 200-day moving average is $101.22.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $1.10. The business had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The business’s revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. On average, equities research analysts predict that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Wednesday, August 17th. Chevron Corp.’s payout ratio is -1,097.44%.
CVX has been the subject of several research reports. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 target price for the company. in a research report on Monday, June 20th. Jefferies Group reaffirmed a “buy” rating and issued a $116.00 target price (up from $114.00) on shares of Chevron Corp. in a research report on Wednesday, July 6th. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Tuesday, July 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 target price 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 raised their target price for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Thirteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Chevron Corp. has a consensus rating of “Buy” and a consensus price target of $105.09.
In other Chevron Corp. news, Director Inge G. Thulin purchased 487 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average cost of $102.87 per share, with a total value of $50,097.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeanette L. Ourada sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $101.70, for a total value of $711,900.00. Following the sale, the insider now directly owns 7,535 shares of the company’s stock, valued at $766,309.50. The disclosure for this sale 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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