Cribstone Capital Management LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,067 shares of the oil and gas company’s stock after buying an additional 314 shares during the period. Cribstone Capital Management LLC’s holdings in Chevron Corporation were worth $320,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Norges Bank bought a new position in shares of Chevron Corporation during the fourth quarter worth about $2,183,692,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Chevron Corporation during the fourth quarter worth about $179,172,000. State Street Corp boosted its position in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after buying an additional 1,261,078 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Chevron Corporation during the first quarter worth about $77,388,000. Finally, Thomaspartners Inc. boosted its position in shares of Chevron Corporation by 30.5% in the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock worth $302,271,000 after buying an additional 657,826 shares during the last quarter. Institutional investors and hedge funds own 62.56% of the company’s stock.
Chevron Corporation (NYSE:CVX) traded down 0.53% during mid-day trading on Thursday, reaching $109.87. The company had a trading volume of 2,344,843 shares. The stock’s 50-day moving average price is $105.21 and its 200 day moving average price is $107.91. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The firm has a market capitalization of $208.15 billion, a PE ratio of 35.63 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.78) EPS. On average, equities research analysts predict that Chevron Corporation will post $3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be paid a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.91%. Chevron Corporation’s dividend payout ratio (DPR) is 140.26%.
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A number of research analysts have issued reports on CVX shares. BidaskClub cut Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. HSBC Holdings plc upgraded Chevron Corporation from a “hold” rating to a “buy” rating and lowered their price objective for the company from $124.00 to $119.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. TheStreet upgraded Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Vetr upgraded Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price objective for the company in a research note on Friday, April 14th. Finally, Macquarie cut Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research note on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $115.97.
About Chevron Corporation
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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