Peapack Gladstone Financial Corp lifted its position in Chevron Corporation (NYSE:CVX) by 8.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 277,928 shares of the oil and gas company’s stock after buying an additional 21,691 shares during the period. Chevron Corporation makes up 1.8% of Peapack Gladstone Financial Corp’s holdings, making the stock its 9th largest position. Peapack Gladstone Financial Corp’s holdings in Chevron Corporation were worth $29,841,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Street Advisors Inc. NC grew its holdings in shares of Chevron Corporation by 5.8% during the first quarter. Franklin Street Advisors Inc. NC now owns 73,297 shares of the oil and gas company’s stock valued at $7,870,000 after buying an additional 3,999 shares in the last quarter. F&V Capital Management LLC boosted its stake in shares of Chevron Corporation by 5.8% during the 1st quarter. F&V Capital Management LLC now owns 38,072 shares of the oil and gas company’s stock worth $4,088,000 after acquiring an additional 2,085 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in shares of Chevron Corporation by 3.4% during the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 1,663,896 shares of the oil and gas company’s stock worth $178,653,000 after purchasing an additional 54,649 shares during the last quarter. Curbstone Financial Management Corp lifted its position in shares of Chevron Corporation by 0.7% during the 1st quarter. Curbstone Financial Management Corp now owns 8,145 shares of the oil and gas company’s stock worth $875,000 after purchasing an additional 54 shares during the last quarter. Finally, Burns J W & Co. Inc. NY lifted its position in shares of Chevron Corporation by 0.6% during the 1st quarter. Burns J W & Co. Inc. NY now owns 62,645 shares of the oil and gas company’s stock worth $6,726,000 after purchasing an additional 349 shares during the last quarter. 62.84% of the stock is currently owned by institutional investors.
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CVX has been the subject of several recent research reports. BidaskClub cut Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Piper Jaffray Companies set a $119.00 price objective on Chevron Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and decreased their price target for the stock from $124.00 to $102.00 in a research report on Monday, July 17th. Jefferies Group LLC set a $130.00 price target on Chevron Corporation and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Vetr raised Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.37 price target on the stock in a research note on Thursday, June 15th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Chevron Corporation has a consensus rating of “Buy” and an average price target of $116.40.
Chevron Corporation (NYSE CVX) traded up 0.71% during mid-day trading on Wednesday, reaching $113.29. 1,621,706 shares of the company’s stock traded hands. The stock has a 50 day moving average of $108.41 and a 200 day moving average of $107.06. The company has a market cap of $214.68 billion, a P/E ratio of 36.73 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 data 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 firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same period last year, the firm posted ($0.78) EPS. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is 140.26%.
In related news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,312 shares of company stock valued at $8,008,343. Insiders own 0.38% of the company’s stock.
Chevron Corporation 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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