Flagship Harbor Advisors LLC Acquires 188 Shares of Chevron Corporation (NYSE:CVX)
Flagship Harbor Advisors LLC raised its stake in Chevron Corporation (NYSE:CVX) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,396 shares of the oil and gas company’s stock after buying an additional 188 shares during the period. Flagship Harbor Advisors LLC’s holdings in Chevron Corporation were worth $914,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares in the last quarter. Norges Bank acquired a new stake in Chevron Corporation during the fourth quarter valued at $2,183,692,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Chevron Corporation by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock valued at $614,268,000 after buying an additional 54,154 shares in the last quarter. Teachers Advisors LLC increased its stake in Chevron Corporation by 14.9% in the fourth quarter. Teachers Advisors LLC now owns 4,416,166 shares of the oil and gas company’s stock valued at $519,783,000 after buying an additional 573,660 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Chevron Corporation by 1.0% in the first quarter. Fisher Asset Management LLC now owns 3,651,370 shares of the oil and gas company’s stock valued at $392,048,000 after buying an additional 35,921 shares in the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron Corporation (NYSE CVX) traded down 0.80% on Friday, hitting $109.23. 3,382,960 shares of the stock traded hands. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The stock has a market cap of $206.99 billion, a P/E ratio of 35.42 and a beta of 1.23. The stock’s 50 day moving average price is $106.01 and its 200 day moving average price is $107.75.
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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $32.77 billion. During the same quarter in the previous year, the firm earned ($0.78) EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts expect that Chevron Corporation will post $3.80 EPS for the current fiscal 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 given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
Several analysts have weighed in on CVX shares. Macquarie downgraded shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Wednesday, June 21st. TheStreet upgraded shares of Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. BidaskClub cut shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company cut shares of Chevron Corporation to an “outperform” rating and decreased their price objective for the company from $124.00 to $102.00 in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron Corporation presently 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 Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is 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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