Aspiriant LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 15.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,210 shares of the oil and gas company’s stock after acquiring an additional 5,482 shares during the quarter. Aspiriant LLC’s holdings in Chevron were worth $4,299,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted its stake in shares of Chevron by 56.0% during the second quarter. Ballentine Partners LLC now owns 13,643 shares of the oil and gas company’s stock valued at $1,424,000 after purchasing an additional 4,896 shares in the last quarter. Highstreet Asset Management Inc. lifted its stake in Chevron by 13.5% in the second quarter. Highstreet Asset Management Inc. now owns 16,089 shares of the oil and gas company’s stock valued at $1,679,000 after buying an additional 1,910 shares during the period. Everett Harris & Co. CA increased its holdings in shares of Chevron by 1.4% during the second quarter. Everett Harris & Co. CA now owns 296,172 shares of the oil and gas company’s stock valued at $30,900,000 after acquiring an additional 4,229 shares in the last quarter. GW Henssler & Associates Ltd. increased its holdings in shares of Chevron by 2.4% during the second quarter. GW Henssler & Associates Ltd. now owns 128,728 shares of the oil and gas company’s stock valued at $13,430,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Chevron by 3.7% during the second quarter. Gabelli Funds LLC now owns 595,800 shares of the oil and gas company’s stock valued at $62,160,000 after acquiring an additional 21,500 shares in the last quarter. 63.93% of the stock is owned by institutional investors.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock worth $36,540,822 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. sell-side analysts predict that Chevron Corporation will post 4.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio is presently 125.95%.
CVX has been the subject of several recent research reports. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Jefferies Group set a $130.00 price objective on Chevron and gave the stock a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 target price on Chevron and gave the stock a “buy” rating in a research note on Friday, August 25th. Credit Suisse Group set a $123.00 price objective on Chevron and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $123.00 price objective (up from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $121.22.
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Chevron 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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