ETRADE Capital Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,182 shares of the oil and gas company’s stock after purchasing an additional 4,606 shares during the period. ETRADE Capital Management LLC’s holdings in Chevron were worth $11,098,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in Chevron by 2.8% in the 2nd quarter. Northern Trust Corp now owns 28,068,068 shares of the oil and gas company’s stock valued at $3,492,791,000 after buying an additional 769,941 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,791,246 shares of the oil and gas company’s stock valued at $1,218,423,000 after purchasing an additional 206,531 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Chevron by 1.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,038,056 shares of the oil and gas company’s stock valued at $875,816,000 after purchasing an additional 81,110 shares during the period. APG Asset Management N.V. boosted its holdings in Chevron by 59.6% in the 2nd quarter. APG Asset Management N.V. now owns 5,518,090 shares of the oil and gas company’s stock valued at $602,978,000 after purchasing an additional 2,061,187 shares during the period. Finally, LSV Asset Management boosted its holdings in Chevron by 1.6% in the 2nd quarter. LSV Asset Management now owns 5,328,633 shares of the oil and gas company’s stock valued at $663,095,000 after purchasing an additional 82,600 shares during the period. Institutional investors own 65.79% of the company’s stock.
In other news, Director Debra L. Reed acquired 4,250 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $118.14 per share, for a total transaction of $502,095.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the sale, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,750 shares of company stock valued at $8,793,900. 0.31% of the stock is currently owned by corporate insiders.
NYSE CVX traded up $0.15 on Thursday, hitting $121.43. The company’s stock had a trading volume of 198,063 shares, compared to its average volume of 6,625,977. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The company’s 50-day moving average is $119.43 and its 200 day moving average is $121.28. The firm has a market cap of $226.65 billion, a PE ratio of 14.73, a PEG ratio of 2.97 and a beta of 1.01.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same period in the prior year, the company posted $1.78 EPS. The company’s revenue was down 8.0% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 6.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, August 16th. Chevron’s dividend payout ratio (DPR) is presently 57.70%.
A number of analysts have issued reports on CVX shares. Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays started coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective for the company. Cowen set a $140.00 price objective on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 30th. Morgan Stanley cut their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, ValuEngine downgraded shares of Chevron from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and an average target price of $136.22.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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