Chevron Corp. (CVX) Position Lowered by Jacobus Wealth Management Inc.
Jacobus Wealth Management Inc. lowered its position in shares of Chevron Corp. (NYSE:CVX) by 21.8% during the second quarter, Holdings Channel reports. The fund owned 4,721 shares of the company’s stock after selling 1,317 shares during the period. Jacobus Wealth Management Inc.’s holdings in Chevron Corp. were worth $495,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CVX. Lincluden Management Ltd. increased its position in shares of Chevron Corp. by 149.0% in the first quarter. Lincluden Management Ltd. now owns 41,955 shares of the company’s stock worth $4,002,000 after buying an additional 25,105 shares during the period. Murphy Pohlad Asset Management LLC increased its position in shares of Chevron Corp. by 2.6% in the first quarter. Murphy Pohlad Asset Management LLC now owns 8,361 shares of the company’s stock worth $797,000 after buying an additional 215 shares during the period. Windward Capital Management Co. CA bought a new position in shares of Chevron Corp. during the first quarter worth $252,000. UMB Bank N A MO increased its position in shares of Chevron Corp. by 2.5% in the first quarter. UMB Bank N A MO now owns 255,605 shares of the company’s stock worth $24,385,000 after buying an additional 6,234 shares during the period. Finally, Stokes & Hubbell Capital Management LLC increased its position in shares of Chevron Corp. by 0.8% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 52,269 shares of the company’s stock worth $4,986,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.29% on Friday, hitting $101.08. 5,114,718 shares of the stock were exchanged. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58. The company’s 50 day moving average is $101.00 and its 200-day moving average is $101.27. The stock’s market cap is $190.69 billion.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data 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 earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the prior year, the company posted $0.30 EPS. The company’s revenue for the quarter was down 27.4% compared to the same quarter last year. Analysts predict that Chevron Corp. will post $1.31 EPS for the current fiscal year.
CVX has been the topic of a number of research analyst reports. Vetr downgraded shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective on the stock. in a research report on Monday, June 27th. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research report on Monday, October 10th. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price target on the stock in a research report on Monday, October 3rd. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Finally, Simmons upgraded shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Thirteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.89.
In related news, Director Inge G. Thulin bought 487 shares of the stock in a transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pierre R. Breber sold 21,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was 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. 0.40% of the stock is currently owned by corporate 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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