Industry News

CORDA Investment Management LLC. Sells 105 Shares of Chevron Co. (NYSE:CVX)

By September 2, 2019 No Comments

CORDA Investment Management LLC. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,223 shares of the oil and gas company’s stock after selling 105 shares during the quarter. CORDA Investment Management LLC.’s holdings in Chevron were worth $1,147,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Pittenger & Anderson Inc. lifted its holdings in shares of Chevron by 1.0% in the second quarter. Pittenger & Anderson Inc. now owns 35,308 shares of the oil and gas company’s stock worth $4,394,000 after buying an additional 333 shares in the last quarter. Wealthsource Partners LLC lifted its holdings in shares of Chevron by 123.7% in the second quarter. Wealthsource Partners LLC now owns 26,731 shares of the oil and gas company’s stock worth $3,326,000 after buying an additional 14,781 shares in the last quarter. Goodman Financial Corp lifted its holdings in shares of Chevron by 1.2% in the second quarter. Goodman Financial Corp now owns 50,084 shares of the oil and gas company’s stock worth $6,232,000 after buying an additional 599 shares in the last quarter. Brooks Moore & Associates Inc. lifted its holdings in shares of Chevron by 1.8% in the second quarter. Brooks Moore & Associates Inc. now owns 23,303 shares of the oil and gas company’s stock worth $2,900,000 after buying an additional 413 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Chevron by 1.1% in the second quarter. Panagora Asset Management Inc. now owns 1,087,414 shares of the oil and gas company’s stock worth $135,318,000 after buying an additional 12,261 shares in the last quarter. Hedge funds and other institutional investors own 66.45% of the company’s stock.

CVX stock opened at $117.72 on Friday. The company has a market capitalization of $223.10 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.87 and a beta of 1.00. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. The company’s 50 day moving average price is $121.07 and its two-hundred day moving average price is $121.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. On average, research analysts predict that Chevron Co. will post 6.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio (DPR) is presently 57.70%.

In other news, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the transaction, the insider now owns 9,243 shares in the company, valued at $1,132,267.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now owns 33,750 shares in the company, valued at approximately $4,239,000. The disclosure for this sale can be found here. Insiders have sold 51,750 shares of company stock worth $6,448,700 over the last three months. Insiders own 0.31% of the company’s stock.

CVX has been the topic of a number of recent analyst reports. Barclays initiated coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target on the stock. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Independent Research set a $127.00 price target on shares of Chevron and gave the stock a “neutral” rating in a report on Thursday. BMO Capital Markets initiated coverage on shares of Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron presently has an average rating of “Buy” and a consensus price target of $136.26.

About Chevron

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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