DNB Asset Management AS lessened its position in shares of Chevron Co. (NYSE:CVX) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,537 shares of the oil and gas company’s stock after selling 15,129 shares during the quarter. DNB Asset Management AS’s holdings in Chevron were worth $26,199,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Taylor Cottrill Erickson & Associates Inc. grew its stake in shares of Chevron by 0.5% during the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock worth $1,967,000 after purchasing an additional 90 shares during the period. Bingham Osborn & Scarborough LLC grew its stake in Chevron by 0.5% in the fourth quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock valued at $1,988,000 after acquiring an additional 92 shares during the period. Unison Advisors LLC grew its stake in Chevron by 0.9% in the fourth quarter. Unison Advisors LLC now owns 10,873 shares of the oil and gas company’s stock valued at $1,183,000 after acquiring an additional 96 shares during the period. Bogart Wealth LLC grew its stake in Chevron by 0.5% in the fourth quarter. Bogart Wealth LLC now owns 18,554 shares of the oil and gas company’s stock valued at $2,018,000 after acquiring an additional 97 shares during the period. Finally, Private Vista LLC grew its stake in Chevron by 1.1% in the fourth quarter. Private Vista LLC now owns 9,191 shares of the oil and gas company’s stock valued at $1,000,000 after acquiring an additional 99 shares during the period. 65.90% of the stock is currently owned by institutional investors.
NYSE:CVX opened at $116.95 on Friday. The firm has a market capitalization of $223.52 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 2.96 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.60. The stock’s 50 day moving average price is $123.31 and its two-hundred day moving average price is $121.51.
Chevron (NYSE:CVX) last announced its earnings results 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. The company had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Equities research analysts expect that Chevron Co. will post 6.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s dividend payout ratio is currently 57.70%.
In other Chevron news, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the sale, the insider now owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Debra L. Reed bought 4,250 shares of Chevron stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders have sold 53,850 shares of company stock worth $6,704,375 in the last three months. 0.31% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on CVX shares. Citigroup began coverage on Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 target price for the company. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley reduced their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $135.41.
Chevron Company Profile
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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