Sterling Investment Management Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 53.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,488 shares of the oil and gas company’s stock after selling 6,177 shares during the period. Sterling Investment Management Inc.’s holdings in Chevron Corporation were worth $589,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Chevron Corporation during the fourth quarter valued at approximately $139,000. Americafirst Capital Management LLC bought a new position in Chevron Corporation during the first quarter worth approximately $140,000. Tortoise Investment Management LLC boosted its position in Chevron Corporation by 46.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,329 shares of the oil and gas company’s stock worth $156,000 after buying an additional 421 shares in the last quarter. Intellectus Partners LLC bought a new position in Chevron Corporation during the fourth quarter worth approximately $181,000. Finally, MML Investors Services LLC bought a new position in Chevron Corporation during the fourth quarter worth approximately $214,000. 62.75% of the stock is owned by institutional investors.
Shares of Chevron Corporation (NYSE CVX) opened at 108.71 on Tuesday. The stock has a market capitalization of $206.01 billion, a P/E ratio of 35.25 and a beta of 1.23. The stock has a 50 day moving average of $106.11 and a 200-day moving average of $107.56. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted ($0.78) earnings per share. Analysts predict that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.97%. Chevron Corporation’s payout ratio is currently 140.26%.
COPYRIGHT VIOLATION NOTICE: This report was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://stocknewstimes.com/2017/08/15/chevron-corporation-cvx-stake-decreased-by-sterling-investment-management-inc-updated-updated.html.
A number of equities analysts have commented on the stock. Simmons cut their price target on shares of Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Citigroup Inc. cut their price target on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, July 21st. BMO Capital Markets set a $120.00 price target on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Sunday, July 30th. Exane BNP Paribas cut shares of Chevron Corporation from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $105.00 to $100.00 in a research note on Friday, May 26th. Finally, BidaskClub raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chevron Corporation presently has a consensus rating of “Buy” and an average target price of $116.80.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated 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 completion of the sale, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
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.
Receive News & Ratings for Chevron Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
