Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Chevron Corporation (NYSE:CVX) by 1.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,721,044 shares of the oil and gas company’s stock after buying an additional 54,154 shares during the period. Chevron Corporation comprises about 0.9% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 15th largest position. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Chevron Corporation worth $614,268,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC bought a new position in Chevron Corporation during the fourth quarter valued at about $139,000. Americafirst Capital Management LLC bought a new position in Chevron Corporation during the first quarter valued at about $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 valued at $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 valued at about $181,000. Finally, MML Investors Services LLC bought a new position in Chevron Corporation during the fourth quarter valued at about $214,000. 62.75% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Corporation (NYSE:CVX) traded down 0.37% on Thursday, reaching $106.44. 985,101 shares of the company’s stock were exchanged. The firm has a market cap of $201.70 billion, a PE ratio of 34.51 and a beta of 1.23. The firm’s 50-day moving average is $106.32 and its 200-day moving average is $107.52. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00. Chevron Corporation also was the target of unusually large options trading activity on Tuesday. Investors bought 35,638 call options on the stock. This is an increase of approximately 544% compared to the average daily volume of 5,534 call options.
Chevron Corporation (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.78) EPS. On average, equities analysts forecast that Chevron Corporation will post $3.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.
Several research analysts have issued reports on CVX shares. Simmons dropped their price target on Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Scotiabank set a $114.00 price target on Chevron Corporation and gave the company a “buy” rating in a report on Monday, May 1st. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a report on Tuesday, May 2nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $135.00 price target (down previously from $145.00) on shares of Chevron Corporation in a report on Thursday, May 11th. Finally, BNP Paribas cut Chevron Corporation from a “neutral” rating to an “underperform” rating and set a $100.00 price target on the stock. in a report on Friday, May 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $116.80.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction dated 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 sale, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction 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 approximately $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.
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