Mizuho Securities USA Inc. Buys Shares of 43,285 Chevron Corp. (CVX)
Mizuho Securities USA Inc. acquired a new position in shares of Chevron Corp. (NYSE:CVX) during the second quarter, Holdings Channel reports. The firm acquired 43,285 shares of the company’s stock, valued at approximately $4,538,000. Chevron Corp. accounts for about 0.7% of Mizuho Securities USA Inc.’s portfolio, making the stock its 26th largest position.
Several other large investors also recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new stake in shares of Chevron Corp. during the first quarter worth $334,000. Sigma Planning Corp raised its stake 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 worth $5,959,000 after buying an additional 2,621 shares during the period. Traynor Capital Management Inc. raised its stake 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 worth $711,000 after buying an additional 654 shares during the period. V Wealth Management LLC bought a new stake in shares of Chevron Corp. during the first quarter worth $549,000. Finally, QUANTRES ASSET MANAGEMENT Ltd raised its stake in shares of Chevron Corp. by 370.3% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 17,400 shares of the company’s stock worth $1,660,000 after buying an additional 13,700 shares during the period. 62.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.29% during trading on Friday, reaching $101.08. 5,114,718 shares of the company’s stock traded hands. The company’s market capitalization is $190.69 billion. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58. The stock has a 50-day moving average of $101.00 and a 200-day moving average of $101.27.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the 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 business earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same period last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. On average, equities analysts predict that Chevron Corp. will post $1.31 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on CVX shares. Vetr lowered shares of 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. Jefferies Group reaffirmed a “buy” rating and issued a $116.00 price target (up from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Tuesday, July 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a report on Thursday, July 28th. Finally, Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their price target for the company 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 given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $105.09.
In other Chevron Corp. news, Director Inge G. Thulin purchased 487 shares of Chevron Corp. stock in a transaction on Monday, August 15th. The shares were bought at an average price of $102.87 per share, with a total value of $50,097.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James William Johnson sold 10,945 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $101.44, for a total transaction of $1,110,260.80. Following the completion of the sale, the insider now directly owns 13,000 shares in the company, valued at approximately $1,318,720. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company 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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