Berkshire Asset Management LLC PA lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,701 shares of the oil and gas company’s stock after selling 1,247 shares during the period. Berkshire Asset Management LLC PA’s holdings in Chevron were worth $13,402,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CVX. Guidant Wealth Advisors grew its stake in shares of Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new position in shares of Chevron in the second quarter worth approximately $34,000. Cordasco Financial Network increased its position in shares of Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 135 shares in the last quarter. Ashburton Jersey Ltd purchased a new position in shares of Chevron in the second quarter worth approximately $54,000. Finally, Thor Advisors LLC purchased a new position in shares of Chevron in the first quarter worth approximately $67,000. 66.45% of the stock is currently owned by institutional investors.
In related news, Director Enrique Hernandez, Jr. sold 2,100 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total transaction of $255,675.00. Following the completion of the transaction, the director now directly owns 15,689 shares in the company, valued at approximately $1,910,135.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the transaction, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The disclosure for this sale can be found here. Insiders sold 53,850 shares of company stock valued at $6,704,375 over the last 90 days. 0.31% of the stock is owned by corporate insiders.NYSE CVX traded up $1.58 during trading on Monday, reaching $117.40. The company’s stock had a trading volume of 2,464,702 shares, compared to its average volume of 6,027,532. The business has a 50-day moving average price of $123.15 and a 200-day moving average price of $121.48. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The stock has a market capitalization of $222.02 billion, a PE ratio of 14.23, a PEG ratio of 2.81 and a beta of 1.00.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same period in the previous year, the company earned $1.78 earnings per share. Chevron’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 6.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Friday, August 16th. Chevron’s payout ratio is 57.70%.
Several research analysts have recently weighed in on CVX shares. Citigroup started coverage on shares of Chevron in a research report on Monday, May 13th. They issued a “buy” rating and a $135.00 target price on the stock. Barclays initiated coverage on shares of Chevron in a research report on Monday. They set an “overweight” rating and a $145.00 price objective on the stock. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley lowered their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Chevron currently has an average rating of “Buy” and an average target price of $135.11.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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