Stellar Capital Management LLC Has $2.13 Million Stake in Chevron Corporation (NYSE:CVX)
Stellar Capital Management LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 3.6% during the first quarter, Holdings Channel reports. The institutional investor owned 19,795 shares of the oil and gas company’s stock after buying an additional 695 shares during the period. Chevron Corporation accounts for 1.6% of Stellar Capital Management LLC’s holdings, making the stock its 28th largest position. Stellar Capital Management LLC’s holdings in Chevron Corporation were worth $2,125,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Thompson Davis & CO. Inc. raised its stake in shares of Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Chevron Corporation during the fourth quarter worth $139,000. Americafirst Capital Management LLC bought a new stake in shares of Chevron Corporation during the first quarter worth $140,000. Tortoise Investment Management LLC raised its stake in shares of Chevron Corporation by 46.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,329 shares of the oil and gas company’s stock worth $156,000 after buying an additional 421 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA raised its stake in shares of Chevron Corporation by 8.8% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.
Shares of Chevron Corporation (CVX) traded down 0.80% during trading on Friday, reaching $109.23. 3,382,960 shares of the company were exchanged. The stock has a market capitalization of $206.99 billion, a PE ratio of 35.42 and a beta of 1.23. The stock has a 50-day moving average price of $106.01 and a 200-day moving average price of $107.75. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business earned ($0.78) EPS. Analysts forecast 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. Shareholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.95%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
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A number of analysts have weighed in on CVX shares. TheStreet upgraded shares of Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation restated a “buy” rating and issued a $135.00 target price (down previously from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. BMO Capital Markets set a $130.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Thursday, June 22nd. Scotiabank set a $114.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, HSBC Holdings plc upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and cut their target price for the company from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $116.18.
In other news, 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated 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 sale, 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 currently owned by company 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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