Airain ltd Buys New Stake in Chevron Corp. (CVX)
Airain ltd bought a new stake in shares of Chevron Corp. (NYSE:CVX) during the second quarter, Holdings Channel reports. The fund bought 49,245 shares of the company’s stock, valued at approximately $5,162,000.
Several other large investors also recently added to or reduced their stakes in CVX. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Chevron Corp. during the second quarter worth approximately $2,118,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Chevron Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,644,631 shares of the company’s stock worth $172,407,000 after buying an additional 11,249 shares in the last quarter. Howard Capital Management boosted 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 in the last quarter. Arizona State Retirement System boosted its position in shares of Chevron Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 730,403 shares of the company’s stock worth $69,680,000 after buying an additional 13,100 shares in the last quarter. Finally, First Quadrant L P CA boosted its position in shares of Chevron Corp. by 0.8% in the second quarter. First Quadrant L P CA now owns 245,387 shares of the company’s stock worth $25,724,000 after buying an additional 2,042 shares in the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.53% during midday trading on Friday, reaching $101.32. 1,217,881 shares of the company’s stock traded hands. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58. The company has a 50 day moving average of $101.02 and a 200 day moving average of $101.23. The firm’s market cap is $191.14 billion.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of $0.32 by $1.10. The firm 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%. Chevron Corp.’s revenue was down 27.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. On average, equities analysts predict that Chevron Corp. will post $1.31 EPS for the current fiscal year.
A number of research analysts have commented on CVX shares. Vetr cut shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target for the company. in a research note on Monday, June 27th. Barclays PLC restated an “equal weight” rating and set a $125.00 price target on shares of Chevron Corp. in a research note on Monday. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price target for the company in a research note on Monday, October 3rd. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Finally, Simmons raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Thirteen research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $105.09.
In other news, Director Inge G. Thulin acquired 487 shares of Chevron Corp. stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average price of $102.87 per share, with a total value of $50,097.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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. 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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