Maple Capital Management Inc. Decreases Position in Chevron Corporation (NYSE:CVX)
Maple Capital Management Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,658 shares of the oil and gas company’s stock after selling 1,217 shares during the period. Chevron Corporation makes up approximately 2.0% of Maple Capital Management Inc.’s holdings, making the stock its 19th largest position. Maple Capital Management Inc.’s holdings in Chevron Corporation were worth $6,850,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Guggenheim Capital LLC boosted its stake in shares of Chevron Corporation by 2.1% in the fourth quarter. Guggenheim Capital LLC now owns 988,896 shares of the oil and gas company’s stock valued at $116,394,000 after buying an additional 20,383 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Chevron Corporation during the fourth quarter valued at about $24,379,000. Foresters Investment Management Company Inc. boosted its stake in shares of Chevron Corporation by 0.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 161,860 shares of the oil and gas company’s stock valued at $19,167,000 after buying an additional 500 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Chevron Corporation by 296.9% in the fourth quarter. Ancora Advisors LLC now owns 71,844 shares of the oil and gas company’s stock valued at $8,456,000 after buying an additional 53,743 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Chevron Corporation during the fourth quarter valued at about $2,019,000. 62.58% of the stock is owned by institutional investors.
Chevron Corporation (NYSE CVX) traded down 0.26% during midday trading on Friday, reaching $109.82. 1,440,409 shares of the company’s stock were exchanged. 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 is $105.87 and its 200 day moving average is $107.79. The firm has a market capitalization of $208.11 billion, a P/E ratio of 35.61 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the previous year, the firm earned ($0.78) earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders 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 annualized dividend and a yield of 3.92%. Chevron Corporation’s payout ratio is 140.26%.
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Several brokerages recently issued reports on CVX. Zacks Investment Research raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BNP Paribas raised shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research note on Monday. BidaskClub raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, TheStreet cut shares of Chevron Corporation from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $116.18.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction on 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 in the company, valued at $4,866,018. The transaction was disclosed in a legal filing with the SEC, 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 on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now 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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