MEMBERS Trust Co Purchases New Stake in Chevron Corporation (NYSE:CVX)
MEMBERS Trust Co purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the first quarter, Holdings Channel reports. The firm purchased 9,377 shares of the oil and gas company’s stock, valued at approximately $1,007,000. Chevron Corporation makes up about 0.1% of MEMBERS Trust Co’s holdings, making the stock its 26th largest position.
Several other hedge funds have also added to or reduced their stakes in CVX. Oppenheimer Asset Management Inc. acquired a new stake in Chevron Corporation during the first quarter valued at approximately $37,785,000. Edmond DE Rothschild Holding S.A. raised its stake in Chevron Corporation by 5.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 752,055 shares of the oil and gas company’s stock valued at $80,748,000 after buying an additional 38,170 shares in the last quarter. Brown Advisory Securities LLC raised its stake in Chevron Corporation by 2.9% in the first quarter. Brown Advisory Securities LLC now owns 21,749 shares of the oil and gas company’s stock valued at $2,332,000 after buying an additional 613 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Chevron Corporation during the first quarter valued at approximately $494,000. Finally, Stockman Wealth Management Inc. raised its stake in Chevron Corporation by 2.4% in the first quarter. Stockman Wealth Management Inc. now owns 30,609 shares of the oil and gas company’s stock valued at $3,286,000 after buying an additional 714 shares in the last quarter. Institutional investors and hedge funds own 62.58% of the company’s stock.
Shares of Chevron Corporation (NYSE CVX) traded down 0.01% during trading on Friday, hitting $110.10. 870,107 shares of the stock were exchanged. The stock has a market cap of $208.64 billion, a price-to-earnings ratio of 35.70 and a beta of 1.23. The stock’s 50 day moving average is $105.87 and its 200-day moving average is $107.79. 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 the Zacks’ 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 business had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period in the previous year, the company earned ($0.78) earnings per share. Chevron Corporation’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post $3.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.
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Several research firms have recently commented on CVX. BNP Paribas upgraded shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target on the stock in a research report on Monday. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Scotiabank set a $115.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, TheStreet lowered shares of Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Three 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 stock has an average rating of “Buy” and an average price target of $116.18.
In other 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 value of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.
Chevron Corporation 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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