Abbrea Capital LLC Sells 295 Shares of Chevron Corporation (CVX)
Abbrea Capital LLC reduced its position in Chevron Corporation (NYSE:CVX) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,088 shares of the company’s stock after selling 295 shares during the quarter. Chevron Corporation accounts for approximately 1.0% of Abbrea Capital LLC’s investment portfolio, making the stock its 29th largest holding. Abbrea Capital LLC’s holdings in Chevron Corporation were worth $2,513,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CVX. Harbour Capital Advisors LLC raised its holdings in Chevron Corporation by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the company’s stock worth $54,721,000 after purchasing an additional 5,653,686 shares in the last quarter. State Street Corp raised its holdings in Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the company’s stock worth $12,752,287,000 after purchasing an additional 1,261,078 shares in the last quarter. Boston Partners raised its holdings in Chevron Corporation by 17.9% in the second quarter. Boston Partners now owns 7,147,113 shares of the company’s stock worth $745,659,000 after purchasing an additional 1,084,757 shares in the last quarter. First Trust Advisors LP raised its holdings in Chevron Corporation by 204.4% in the second quarter. First Trust Advisors LP now owns 1,373,511 shares of the company’s stock worth $143,298,000 after purchasing an additional 922,316 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Chevron Corporation in the first quarter worth about $77,388,000. Hedge funds and other institutional investors own 63.03% of the company’s stock.
In other news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of C$120.00, for a total transaction of C$3,060,000.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately C$3,060,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of C$107.38, for a total value of C$248,262.56. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 50,000 shares of company stock worth $6,590 and sold 29,041 shares worth $3,453,285. Corporate insiders own 0.38% of the company’s stock.
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Shares of Chevron Corporation (NYSE CVX) opened at C$117.18 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Corporation has a 52-week low of C$102.55 and a 52-week high of C$120.89. The company has a market capitalization of $222,568.64, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The company reported C$1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.99 by C$0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of C$36.21 billion for the quarter, compared to analyst estimates of C$34.06 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. sell-side analysts forecast that Chevron Corporation will post 4.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.69%. Chevron Corporation’s dividend payout ratio is presently 125.95%.
A number of brokerages have commented on CVX. Zacks Investment Research upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Friday. Citigroup Inc. boosted their target price on shares of Chevron Corporation from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Jefferies Group LLC reiterated a “buy” rating and issued a $137.00 target price (up from $113.54) on shares of Chevron Corporation in a report on Monday, October 30th. Royal Bank Of Canada set a $100.00 target price on shares of Chevron Corporation and gave the stock a “sell” rating in a report on Friday, October 27th. Finally, TheStreet upgraded shares of Chevron Corporation from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. Chevron Corporation currently has an average rating of “Buy” and an average target price of C$120.63.
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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