Chevron Corporation (CVX) Stake Lessened by Birmingham Capital Management Co. Inc. AL
Birmingham Capital Management Co. Inc. AL reduced its position in shares of Chevron Corporation (NYSE:CVX) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,085 shares of the oil and gas company’s stock after selling 395 shares during the quarter. Chevron Corporation accounts for approximately 2.6% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 11th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Chevron Corporation were worth $6,373,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Harbour Capital Advisors LLC lifted its stake in Chevron Corporation by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares in the last quarter. State Street Corp lifted its stake in Chevron Corporation by 1.1% in the 1st 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. Karp Capital Management Corp purchased a new position in Chevron Corporation in the 1st quarter valued at about $77,388,000. Thomaspartners Inc. lifted its stake in Chevron Corporation by 30.5% in the 1st quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock valued at $302,271,000 after buying an additional 657,826 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Chevron Corporation in the 1st quarter valued at about $37,785,000. 62.72% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on CVX shares. Citigroup Inc. decreased their price target on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Scotiabank reaffirmed a “buy” rating and issued a $113.00 price target on shares of Chevron Corporation in a research note on Friday, June 30th. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Saturday, June 24th. BMO Capital Markets set a $130.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $119.66.
Shares of Chevron Corporation (CVX) opened at 118.20 on Friday. The firm has a market cap of $223.99 billion, a P/E ratio of 38.33 and a beta of 1.24. Chevron Corporation has a 12-month low of $99.87 and a 12-month high of $120.00. The company has a 50-day moving average of $115.93 and a 200 day moving average of $108.64.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the 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 firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the prior year, the business posted ($0.78) earnings per share. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post $4.08 earnings per share for the current fiscal year.
In other news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. Insiders have sold 97,812 shares of company stock valued at $11,068,343 in the last ninety days. 0.38% of the stock is currently owned by company 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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