First Bank & Trust raised its stake in shares of Chevron Corporation (NYSE:CVX) by 40.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,833 shares of the oil and gas company’s stock after buying an additional 4,235 shares during the quarter. Chevron Corporation comprises approximately 1.3% of First Bank & Trust’s holdings, making the stock its 20th largest position. First Bank & Trust’s holdings in Chevron Corporation were worth $1,547,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cambridge Trust Co. boosted its stake in Chevron Corporation by 120.4% during the second quarter. Cambridge Trust Co. now owns 67,971 shares of the oil and gas company’s stock worth $7,091,000 after buying an additional 37,128 shares during the period. Perennial Advisors LLC lifted its position in shares of Chevron Corporation by 3.3% during the second quarter. Perennial Advisors LLC now owns 4,414 shares of the oil and gas company’s stock worth $461,000 after purchasing an additional 142 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Chevron Corporation by 181.8% during the second quarter. Chicago Partners Investment Group LLC now owns 7,696 shares of the oil and gas company’s stock worth $842,000 after purchasing an additional 4,965 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Chevron Corporation by 15.2% during the second quarter. Retirement Systems of Alabama now owns 1,053,885 shares of the oil and gas company’s stock worth $109,952,000 after purchasing an additional 138,793 shares during the last quarter. Finally, Callahan Advisors LLC lifted its position in shares of Chevron Corporation by 4.2% during the second quarter. Callahan Advisors LLC now owns 75,119 shares of the oil and gas company’s stock worth $7,837,000 after purchasing an additional 3,026 shares during the last quarter. 63.03% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on CVX shares. Jefferies Group LLC restated a “buy” rating and issued a $137.00 price objective (up from $113.54) on shares of Chevron Corporation in a report on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. 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. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and dropped their price target for the stock from $124.00 to $102.00 in a research note on Monday, July 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $120.63.
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Shares of Chevron Corporation (NYSE:CVX) traded up $0.05 during midday trading on Tuesday, hitting $117.23. The stock had a trading volume of 4,279,200 shares, compared to its average volume of 5,663,813. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $120.89. The firm has a market cap of $222,130.00, a price-to-earnings ratio of 32.82, a PEG ratio of 3.91 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. sell-side analysts forecast that Chevron Corporation will post 4.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. Chevron Corporation’s dividend payout ratio (DPR) is currently 125.95%.
In related news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron Corporation stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 50,000 shares of company stock worth $6,590 and sold 29,041 shares worth $3,453,285. Company insiders own 0.38% of the company’s stock.
Chevron Corporation Company 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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