Community Financial Services Group LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,513 shares of the oil and gas company’s stock after buying an additional 644 shares during the period. Community Financial Services Group LLC’s holdings in Chevron Corporation were worth $592,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Chevron Corporation during the fourth quarter worth approximately $2,183,692,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Chevron Corporation during the fourth quarter worth approximately $179,172,000. State Street Corp increased its position in 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 in the last quarter. Karp Capital Management Corp purchased a new position in Chevron Corporation during the first quarter worth approximately $77,388,000. Finally, Thomaspartners Inc. increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 62.75% of the company’s stock.
Shares of Chevron Corporation (CVX) traded down 0.93% during trading on Tuesday, hitting $107.70. The stock had a trading volume of 1,494,948 shares. The company’s 50 day moving average price is $106.11 and its 200 day moving average price is $107.56. The stock has a market cap of $204.09 billion, a price-to-earnings ratio of 34.92 and a beta of 1.23. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the prior year, the company posted ($0.78) EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post $3.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
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CVX has been the subject of a number of research reports. Zacks Investment Research downgraded Chevron Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. HSBC Holdings plc upgraded Chevron Corporation from a “hold” rating to a “buy” rating and lowered their target price for the company from $124.00 to $119.00 in a research report 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 report on Tuesday, May 2nd. Finally, BMO Capital Markets set a $120.00 target price on Chevron Corporation and gave the company a “buy” rating in a research report on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $116.80.
In other news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. Corporate 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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