Oppenheimer Asset Management Inc. purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 351,909 shares of the oil and gas company’s stock, valued at approximately $37,785,000. Chevron Corporation comprises about 1.1% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 6th largest position.
A number of other large investors have also bought and sold shares of CVX. Haverford Financial Services Inc. boosted its stake in Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after buying an additional 16 shares during the period. Orgel Wealth Management LLC boosted its stake in Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after buying an additional 18 shares during the period. Westbourne Investment Advisors Inc. boosted its stake in Chevron Corporation by 0.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock worth $798,000 after buying an additional 33 shares during the period. Court Place Advisors LLC boosted its stake in Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock worth $641,000 after buying an additional 36 shares during the period. Finally, Evanson Asset Management LLC boosted its stake in Chevron Corporation by 0.5% in the first quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock worth $1,022,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 62.58% of the company’s stock.
Shares of Chevron Corporation (NYSE CVX) traded down 0.01% during mid-day trading on Friday, hitting $110.10. The company had a trading volume of 869,671 shares. The company has a market capitalization of $208.64 billion, a PE ratio of 35.70 and a beta of 1.23. The company’s 50-day moving average is $105.87 and its 200 day moving average is $107.79. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period in the prior year, the business earned ($0.78) EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
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A number of brokerages have commented on CVX. Jefferies Group LLC set a $135.00 price objective on Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. Barclays PLC reaffirmed an “overweight” rating and issued a $125.00 price objective (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. Simmons decreased their price objective on Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Macquarie lowered Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Chevron Corporation currently has an average rating of “Buy” and a consensus price target of $116.18.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.
Chevron Corporation 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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