Chevron Co. (CVX) Shares Sold by Coastline Trust Co
Coastline Trust Co decreased its stake in Chevron Co. (NYSE:CVX) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,114 shares of the oil and gas company’s stock after selling 1,265 shares during the quarter. Coastline Trust Co’s holdings in Chevron were worth $3,304,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Numeric Investors LLC lifted its stake in shares of Chevron by 158.4% in the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock worth $5,446,000 after buying an additional 32,000 shares in the last quarter. Palisade Asset Management LLC lifted its stake in shares of Chevron by 20.5% in the second quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock worth $11,388,000 after buying an additional 18,541 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Chevron by 24.7% in the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock worth $68,894,000 after buying an additional 130,990 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of Chevron by 41.2% in the third quarter. Shell Asset Management Co. now owns 506,198 shares of the oil and gas company’s stock worth $60,400,000 after buying an additional 147,738 shares in the last quarter. Finally, Perpetual Ltd lifted its stake in shares of Chevron by 6.8% in the second quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock worth $2,297,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 64.02% of the company’s stock.
CVX has been the topic of several research reports. Royal Bank of Canada set a $110.00 price target on shares of Chevron and gave the stock a “sell” rating in a research note on Wednesday, December 20th. Vetr downgraded shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target on the stock. in a research note on Monday, February 26th. Wells Fargo & Co decreased their price target on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research note on Friday, November 17th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $130.28.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The company had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. Chevron’s revenue was up 19.4% on a year-over-year basis. equities research analysts anticipate that Chevron Co. will post 6.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a dividend of $1.12 per share. The ex-dividend date is Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.01%. Chevron’s dividend payout ratio (DPR) is currently 92.37%.
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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