Beacon Investment Advisory Services Inc. increased its stake in Chevron Corporation (NYSE:CVX) by 21.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,840 shares of the oil and gas company’s stock after acquiring an additional 1,039 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Chevron were worth $609,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. HPM Partners LLC lifted its stake in Chevron by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock valued at $4,159,000 after buying an additional 25,691 shares during the period. Lincoln National Corp raised its position in shares of Chevron by 33.3% during the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after purchasing an additional 20,615 shares during the period. Korea Investment CORP raised its position in shares of Chevron by 5.1% during the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after purchasing an additional 72,173 shares during the period. Adams Natural Resources Fund Inc. raised its position in shares of Chevron by 8.8% during the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after purchasing an additional 48,100 shares during the period. Finally, Strategic Financial Group LLC raised its position in shares of Chevron by 6.0% during the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares during the period. 63.93% of the stock is currently owned by institutional investors.
In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the sale, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock worth $36,540,822 in the last three months. 0.38% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on CVX. Credit Suisse Group set a $123.00 target price on Chevron and gave the stock a “buy” rating in a research report on Friday, August 25th. Barclays upgraded Chevron to an “overweight” rating in a report on Wednesday, October 11th. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $124.92 price target for the company. in a report on Monday, October 16th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Friday, November 17th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of Chevron in a report on Saturday, September 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $121.22.
Chevron Corporation (NYSE:CVX) traded up $0.02 during mid-day trading on Thursday, hitting $119.63. The stock had a trading volume of 4,908,720 shares, compared to its average volume of 5,619,865. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $226,980.00, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 3.93 and a beta of 1.21. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $122.30.
Chevron (NYSE:CVX) last issued its quarterly earnings data 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 business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. analysts predict that Chevron Corporation will post 4.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. Chevron’s dividend payout ratio (DPR) is 125.95%.
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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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