Chevron Corporation (NYSE:CVX) Shares Sold by HighVista Strategies LLC
HighVista Strategies LLC lowered its position in Chevron Corporation (NYSE:CVX) by 9.3% during the first quarter, Holdings Channel reports. The institutional investor owned 9,761 shares of the oil and gas company’s stock after selling 1,000 shares during the period. HighVista Strategies LLC’s holdings in Chevron Corporation were worth $1,048,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation raised its position in Chevron Corporation by 9.1% in the fourth quarter. Zions Bancorporation now owns 26,150 shares of the oil and gas company’s stock valued at $3,078,000 after buying an additional 2,186 shares during the last quarter. Intellectus Partners LLC purchased a new position in Chevron Corporation during the fourth quarter valued at about $181,000. Moloney Securities Asset Management LLC purchased a new position in Chevron Corporation during the fourth quarter valued at about $2,726,000. Cheviot Value Management LLC raised its position in Chevron Corporation by 9.2% in the fourth quarter. Cheviot Value Management LLC now owns 35,407 shares of the oil and gas company’s stock valued at $4,167,000 after buying an additional 2,979 shares during the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in Chevron Corporation during the fourth quarter valued at about $324,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
Chevron Corporation (NYSE:CVX) traded down 0.1436% during mid-day trading on Thursday, hitting $110.7308. The company had a trading volume of 830,587 shares. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The stock’s 50 day moving average price is $105.71 and its 200 day moving average price is $107.78. The firm has a market cap of $209.84 billion, a P/E ratio of 35.9049 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.78) EPS. On average, equities research analysts predict that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.
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CVX has been the topic of a number of analyst reports. Vetr raised Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price target on the stock in a research report on Friday, April 14th. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Scotiabank set a $114.00 price target on Chevron Corporation and gave the company a “buy” rating in a research report on Monday, May 1st. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and reduced their price target for the company from $124.00 to $102.00 in a research report on Monday, July 17th. Finally, Exane BNP Paribas lowered Chevron Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $105.00 to $100.00 in a research report on Friday, May 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $116.18.
In other news, insider James William Johnson sold 31,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,217,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the sale, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate 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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