Bremer Trust National Association Decreases Stake in Chevron Corp. (CVX)
Bremer Trust National Association reduced its stake in Chevron Corp. (NYSE:CVX) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,691 shares of the company’s stock after selling 154 shares during the period. Bremer Trust National Association’s holdings in Chevron Corp. were worth $2,232,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Thompson Davis & CO. Inc. boosted its position in shares of Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock valued at $100,000 after buying an additional 729 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock valued at $121,000 after buying an additional 621 shares during the last quarter. Camarda Financial Advisors LLC purchased a new position in shares of Chevron Corp. during the second quarter valued at about $122,000. Wealthcare Capital Management LLC purchased a new position in shares of Chevron Corp. during the second quarter valued at about $128,000. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Chevron Corp. by 90.5% in the second quarter. Chicago Partners Investment Group LLC now owns 1,644 shares of the company’s stock valued at $172,000 after buying an additional 781 shares during the last quarter. 61.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Corp. (NYSE:CVX) traded up 2.03% during midday trading on Wednesday, hitting $111.56. The company had a trading volume of 17,301,924 shares. The firm’s market capitalization is $210.60 billion. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $112.98. The company has a 50-day moving average of $105.64 and a 200 day moving average of $102.91.
Chevron Corp. (NYSE:CVX) last posted its earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.29. The company earned $30.14 billion during the quarter, compared to analysts’ expectations of $29.71 billion. Chevron Corp. had a positive return on equity of 0.59% and a negative net margin of 1.34%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. On average, analysts expect that Chevron Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a dividend of $1.08 per share. This is a boost from Chevron Corp.’s previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.87%. Chevron Corp.’s dividend payout ratio (DPR) is -540.00%.
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A number of research firms have recently weighed in on CVX. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $105.00 price objective on shares of Chevron Corp. in a research report on Saturday, August 13th. Vetr cut Chevron Corp. from a “hold” rating to a “sell” rating and set a $106.05 price objective on the stock. in a research report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $120.00 price objective (up from $116.00) on shares of Chevron Corp. in a research report on Tuesday, November 1st. Morgan Stanley raised Chevron Corp. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $113.00 to $130.00 in a research report on Tuesday, November 1st. Finally, Simmons raised Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $110.00 to $117.00 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $108.42.
In other news, Director Linnet F. Deily sold 5,637 shares of Chevron Corp. stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total value of $593,406.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of Chevron Corp. stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the sale, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The disclosure for this sale can be found here. Company 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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