Parsons Capital Management Inc. RI increased its stake in Chevron Corporation (NYSE:CVX) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,315 shares of the oil and gas company’s stock after buying an additional 480 shares during the period. Chevron Corporation makes up about 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 13th largest position. Parsons Capital Management Inc. RI’s holdings in Chevron Corporation were worth $9,053,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Chevron Corporation during the fourth quarter valued at $2,183,692,000. Teachers Advisors LLC increased its stake in Chevron Corporation by 14.9% in the fourth quarter. Teachers Advisors LLC now owns 4,416,166 shares of the oil and gas company’s stock valued at $519,783,000 after buying an additional 573,660 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Chevron Corporation by 1.0% in the first quarter. Fisher Asset Management LLC now owns 3,651,370 shares of the oil and gas company’s stock valued at $392,048,000 after buying an additional 35,921 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of Chevron Corporation by 17,780.6% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,445,527 shares of the oil and gas company’s stock valued at $2,445,000 after buying an additional 2,431,850 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Chevron Corporation by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 1,831,675 shares of the oil and gas company’s stock valued at $215,588,000 after buying an additional 394,307 shares in the last quarter. Institutional investors own 62.58% of the company’s stock.
Chevron Corporation (NYSE CVX) opened at 109.23 on Friday. The company has a 50-day moving average price of $106.01 and a 200 day moving average price of $107.75. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The stock has a market cap of $206.99 billion, a price-to-earnings ratio of 35.42 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.78) EPS. On average, analysts expect that Chevron Corporation will post $3.80 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.95%. Chevron Corporation’s dividend payout ratio is presently 140.26%.
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CVX has been the topic of several recent analyst reports. Macquarie downgraded Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research note on Wednesday, June 21st. TheStreet upgraded Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Wells Fargo & Company downgraded 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $116.18.
In other news, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. 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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