Investec Asset Management LTD raised its stake in Chevron Corporation (NYSE:CVX) by 24.2% during the first quarter, Holdings Channel reports. The fund owned 671,544 shares of the oil and gas company’s stock after buying an additional 130,829 shares during the period. Investec Asset Management LTD’s holdings in Chevron Corporation were worth $72,104,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Haverford Financial Services Inc. raised its stake in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 16 shares during the period. Orgel Wealth Management LLC raised its stake in shares of Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 18 shares during the period. Westbourne Investment Advisors Inc. raised its stake in shares of Chevron Corporation by 0.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock valued at $798,000 after buying an additional 33 shares during the period. Court Place Advisors LLC raised its stake in shares of Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 36 shares during the period. Finally, Evanson Asset Management LLC raised its stake in shares of Chevron Corporation by 0.5% in the first quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock valued at $1,022,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 62.58% of the company’s stock.

Chevron Corporation (NYSE CVX) traded up 0.67% during trading on Wednesday, hitting $111.09. The stock had a trading volume of 817,607 shares. The stock has a market cap of $210.47 billion, a price-to-earnings ratio of 36.02 and a beta of 1.23. The firm has a 50 day moving average of $105.46 and a 200-day moving average of $107.95. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.78) earnings per share. Equities analysts predict that Chevron Corporation will post $3.80 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.91%. Chevron Corporation’s dividend payout ratio is currently 140.26%.

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CVX has been the subject of several research analyst reports. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. HSBC Holdings plc raised Chevron Corporation from a “hold” rating to a “buy” rating and dropped their price target for the stock from $124.00 to $119.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Zacks Investment Research lowered Chevron Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Vetr raised Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price target for the company in a research note on Friday, April 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron Corporation has a consensus rating of “Buy” and an average price target of $116.22.

In other news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

About Chevron Corporation

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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Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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