Chevron Corporation (CVX) Holdings Trimmed by Home Federal Bank of Tennessee
Home Federal Bank of Tennessee lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,469 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Chevron Corporation makes up approximately 0.9% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 23rd largest position. Home Federal Bank of Tennessee’s holdings in Chevron Corporation were worth $1,718,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its holdings in shares of Chevron Corporation by 1.1% during the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after acquiring an additional 1,261,078 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Chevron Corporation by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock worth $614,268,000 after acquiring an additional 54,154 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Chevron Corporation by 4.0% during the second quarter. Fisher Asset Management LLC now owns 3,799,120 shares of the oil and gas company’s stock worth $396,362,000 after acquiring an additional 147,750 shares during the period. Thomaspartners Inc. boosted its holdings in shares of Chevron Corporation by 30.5% during the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock worth $302,271,000 after acquiring an additional 657,826 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Chevron Corporation by 0.9% during the first quarter. Great West Life Assurance Co. Can now owns 2,173,646 shares of the oil and gas company’s stock worth $233,274,000 after acquiring an additional 19,944 shares during the period. 62.84% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Corporation (NYSE CVX) traded down 0.25% during midday trading on Friday, reaching $114.16. The company’s stock had a trading volume of 3,945,667 shares. The company has a market cap of $216.33 billion, a PE ratio of 37.02 and a beta of 1.23. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00. The stock has a 50-day moving average price of $109.22 and a 200 day moving average price of $107.18.
Chevron Corporation (NYSE:CVX) last posted 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 company had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the previous year, the firm posted ($0.78) EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Analysts expect that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio is currently 140.26%.
CVX has been the subject of a number of research analyst reports. Scotiabank restated a “buy” rating and set a $113.00 price objective on shares of Chevron Corporation in a report on Friday, June 30th. Jefferies Group LLC set a $135.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets set a $130.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a report on Thursday, June 22nd. HSBC Holdings plc upgraded Chevron Corporation from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $124.00 to $119.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. reduced their price objective on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $116.40.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation 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 transaction, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is owned by corporate insiders.
Chevron Corporation 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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