Schwab Charles Investment Management Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,218,585 shares of the oil and gas company’s stock after acquiring an additional 169,578 shares during the period. Chevron comprises about 0.8% of Schwab Charles Investment Management Inc.’s investment portfolio, making the stock its 15th biggest position. Schwab Charles Investment Management Inc. owned 0.43% of Chevron worth $965,684,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Commonwealth Bank of Australia boosted its position in Chevron by 8.5% in the third quarter. Commonwealth Bank of Australia now owns 1,014,807 shares of the oil and gas company’s stock valued at $119,233,000 after buying an additional 79,580 shares in the last quarter. Grove Bank & Trust boosted its position in Chevron by 8.3% in the third quarter. Grove Bank & Trust now owns 20,782 shares of the oil and gas company’s stock valued at $2,442,000 after buying an additional 1,601 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in Chevron by 2.0% in the third quarter. Ropes Wealth Advisors LLC now owns 47,005 shares of the oil and gas company’s stock valued at $5,523,000 after buying an additional 920 shares in the last quarter. Zeke Capital Advisors LLC boosted its position in Chevron by 89.1% in the third quarter. Zeke Capital Advisors LLC now owns 32,194 shares of the oil and gas company’s stock valued at $3,783,000 after buying an additional 15,173 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Chevron by 2.6% in the third quarter. Amalgamated Bank now owns 202,769 shares of the oil and gas company’s stock valued at $23,825,000 after buying an additional 5,105 shares in the last quarter. Institutional investors and hedge funds own 63.72% of the company’s stock.
In other Chevron news, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the sale, the chief financial officer now owns 39,506 shares of the company’s stock, valued at $4,554,646.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,878 shares of company stock valued at $29,107,461. 0.38% of the stock is currently owned by insiders.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. analysts predict that Chevron Co. will post 6.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s payout ratio is 114.29%.
CVX has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Friday, November 10th. Citigroup boosted their price target on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Jefferies Group reaffirmed a “buy” rating and issued a $137.00 target price (up from $113.54) on shares of Chevron in a research note on Monday, October 30th. Finally, Bank of America set a $125.00 target price on shares of Chevron and gave the stock a “buy” rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $130.30.
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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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