Dana Investment Advisors Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 197,285 shares of the oil and gas company’s stock after selling 14,712 shares during the period. Dana Investment Advisors Inc.’s holdings in Chevron were worth $24,943,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Reilly Herbert Faulkner III increased its holdings in shares of Chevron by 4.5% during the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock worth $3,501,000 after purchasing an additional 1,334 shares during the period. Fiera Capital Corp increased its holdings in shares of Chevron by 1.6% during the first quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after purchasing an additional 4,800 shares during the period. AMG National Trust Bank increased its holdings in shares of Chevron by 19.6% during the second quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after purchasing an additional 1,041 shares during the period. Mycio Wealth Partners LLC increased its holdings in shares of Chevron by 16.8% during the second quarter. Mycio Wealth Partners LLC now owns 9,795 shares of the oil and gas company’s stock worth $1,238,000 after purchasing an additional 1,412 shares during the period. Finally, North Star Investment Management Corp. increased its holdings in shares of Chevron by 12.6% during the second quarter. North Star Investment Management Corp. now owns 21,054 shares of the oil and gas company’s stock worth $2,662,000 after purchasing an additional 2,358 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total value of $551,000.00. Following the sale, the insider now owns 4,750 shares in the company, valued at $551,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.
Chevron (NYSE:CVX) last issued its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The company had revenue of $42.24 billion during the quarter, compared to analyst estimates of $46.62 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 8.17 EPS for the current fiscal year.
Several research analysts have recently commented on the stock. Barclays raised their target price on shares of Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Royal Bank of Canada set a $150.00 target price on shares of Chevron and gave the stock a “hold” rating in a report on Thursday, September 20th. Berenberg Bank initiated coverage on shares of Chevron in a research note on Tuesday, September 11th. They issued a “hold” rating and a $135.00 price objective on the stock. Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Finally, Macquarie cut shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $136.83.
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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