Ballentine Partners LLC Acquires 4,896 Shares of Chevron Corporation (CVX)
Ballentine Partners LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 56.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,643 shares of the oil and gas company’s stock after buying an additional 4,896 shares during the period. Ballentine Partners LLC’s holdings in Chevron Corporation were worth $1,424,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. HPM Partners LLC raised its holdings in shares of Chevron Corporation by 197.0% in the 1st quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock valued at $4,159,000 after purchasing an additional 25,691 shares during the period. Lincoln National Corp raised its holdings in shares of Chevron Corporation by 33.3% in the 1st quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock valued at $8,859,000 after purchasing an additional 20,615 shares during the period. Korea Investment CORP raised its holdings in shares of Chevron Corporation by 5.1% in the 2nd quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after purchasing an additional 72,173 shares during the period. Adams Natural Resources Fund Inc. raised its holdings in shares of Chevron Corporation by 8.8% in the 2nd quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock valued at $62,264,000 after purchasing an additional 48,100 shares during the period. Finally, Strategic Financial Group LLC raised its holdings in shares of Chevron Corporation by 6.0% in the 1st quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock valued at $964,000 after purchasing an additional 510 shares during the period. Institutional investors own 63.15% of the company’s stock.
A number of equities research analysts have recently issued reports on CVX shares. UBS AG set a $105.00 target price on shares of Chevron Corporation and gave the company a “neutral” rating in a report on Wednesday, September 6th. Morgan Stanley upped their target price on shares of Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Credit Suisse Group set a $123.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a report on Friday, August 25th. Jefferies Group LLC set a $130.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, Citigroup Inc. upped their target price on shares of Chevron Corporation from $118.00 to $128.00 and gave the company a “buy” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $120.54.
In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now owns 1,229 shares in the company, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders have sold a total of 63,122 shares of company stock worth $7,433,361 in the last quarter. 0.38% of the stock is currently owned by company insiders.
Shares of Chevron Corporation (NYSE CVX) opened at $114.72 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The stock has a market cap of $217,900.00, a P/E ratio of 32.13, a P/E/G ratio of 3.83 and a beta of 1.22. Chevron Corporation has a 52-week low of $102.55 and a 52-week high of $120.89.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. analysts forecast that Chevron Corporation will post 4.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.77%. Chevron Corporation’s dividend payout ratio is 125.95%.
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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