Benedict Financial Advisors Inc. reduced its stake in Chevron Corporation (NYSE:CVX) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,312 shares of the oil and gas company’s stock after selling 113 shares during the period. Chevron Corporation accounts for approximately 1.8% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 17th largest position. Benedict Financial Advisors Inc.’s holdings in Chevron Corporation were worth $3,255,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. raised its position in Chevron Corporation by 7.9% in the first quarter. Nikko Asset Management Americas Inc. now owns 239,730 shares of the oil and gas company’s stock valued at $25,740,000 after buying an additional 17,600 shares in the last quarter. Paragon Capital Management Ltd bought a new position in Chevron Corporation during the first quarter valued at approximately $1,459,000. Everett Harris & Co. CA raised its position in Chevron Corporation by 0.4% in the first quarter. Everett Harris & Co. CA now owns 291,943 shares of the oil and gas company’s stock valued at $31,346,000 after buying an additional 1,142 shares in the last quarter. Investment Counsel Inc. raised its position in Chevron Corporation by 7.0% in the first quarter. Investment Counsel Inc. now owns 16,755 shares of the oil and gas company’s stock valued at $1,799,000 after buying an additional 1,100 shares in the last quarter. Finally, Kanawha Capital Management LLC raised its position in Chevron Corporation by 0.9% in the first quarter. Kanawha Capital Management LLC now owns 99,611 shares of the oil and gas company’s stock valued at $10,695,000 after buying an additional 929 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.
Shares of Chevron Corporation (NYSE:CVX) traded up 0.53% during trading on Friday, reaching $106.48. 5,467,369 shares of the company were exchanged. The firm has a 50-day moving average price of $106.43 and a 200-day moving average price of $107.47. The stock has a market capitalization of $201.78 billion, a P/E ratio of 34.53 and a beta of 1.23. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00.
Chevron Corporation (NYSE:CVX) last issued 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 net margin of 4.50% and a return on equity of 4.13%. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter last year, the company posted ($0.78) EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post $3.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.06%. Chevron Corporation’s payout ratio is 140.26%.
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Several research analysts recently commented on the company. BNP Paribas upgraded Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a research report on Monday, August 7th. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Scotiabank set a $115.00 price target on Chevron Corporation and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, TheStreet lowered Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.80.
In other news, 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 value of $4,329,000.00. Following the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock worth $8,008,343 over the last 90 days. 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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