Marshall & Sullivan Inc. WA Has $213,000 Position in Chevron Corporation (NYSE:CVX)
Marshall & Sullivan Inc. WA boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 8.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,985 shares of the oil and gas company’s stock after buying an additional 160 shares during the period. Marshall & Sullivan Inc. WA’s holdings in Chevron Corporation were worth $213,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Pacific Global Investment Management CO boosted its position in Chevron Corporation by 3.6% in the fourth quarter. Pacific Global Investment Management CO now owns 25,486 shares of the oil and gas company’s stock valued at $3,000,000 after buying an additional 877 shares in the last quarter. NWQ Investment Management Company LLC purchased a new position in Chevron Corporation during the fourth quarter valued at $219,000. STA Wealth Management LLC boosted its position in Chevron Corporation by 42.5% in the fourth quarter. STA Wealth Management LLC now owns 3,843 shares of the oil and gas company’s stock valued at $453,000 after buying an additional 1,146 shares in the last quarter. GLG LLC boosted its position in Chevron Corporation by 6.8% in the fourth quarter. GLG LLC now owns 104,962 shares of the oil and gas company’s stock valued at $12,354,000 after buying an additional 6,672 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Chevron Corporation during the fourth quarter valued at $2,019,000. 62.58% of the stock is owned by institutional investors and hedge funds.
Chevron Corporation (CVX) traded down 0.80% on Friday, reaching $109.23. The company had a trading volume of 3,382,960 shares. The stock’s 50-day moving average price is $106.01 and its 200-day moving average price is $107.75. The stock has a market capitalization of $206.99 billion, a P/E ratio of 35.42 and a beta of 1.23. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00.
Chevron Corporation (NYSE:CVX) last released its quarterly 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 return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter last year, the firm posted ($0.78) EPS. The company’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.95%. Chevron Corporation’s payout ratio is currently 140.26%.
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A number of equities analysts have commented on the stock. Simmons reduced their price objective on shares of Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Citigroup Inc. reduced their price objective on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, July 21st. BMO Capital Markets set a $120.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Exane BNP Paribas cut shares of Chevron Corporation from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $105.00 to $100.00 in a research report on Friday, May 26th. Finally, BidaskClub raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Three 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 stock. The stock has an average rating of “Buy” and an average price target of $116.18.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction dated 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 directly owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
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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