Pineno Levin & Ford Asset Management Inc. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,547 shares of the oil and gas company’s stock after selling 900 shares during the period. Pineno Levin & Ford Asset Management Inc.’s holdings in Chevron Corporation were worth $1,669,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CVX. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Chevron Corporation during the fourth quarter worth about $139,000. Americafirst Capital Management LLC bought a new position in Chevron Corporation during the first quarter valued at approximately $140,000. Tortoise Investment Management LLC increased its position in shares of Chevron Corporation by 46.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,329 shares of the oil and gas company’s stock worth $156,000 after buying an additional 421 shares during the last quarter. Intellectus Partners LLC acquired a new position in shares of Chevron Corporation during the fourth quarter worth approximately $181,000. Finally, MML Investors Services LLC acquired a new position in shares of Chevron Corporation during the fourth quarter worth approximately $214,000. Institutional investors and hedge funds own 62.75% of the company’s stock.
Chevron Corporation (NYSE:CVX) traded up 0.53% on Friday, hitting $106.48. 5,467,369 shares of the stock were exchanged. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00. The company has a market cap of $201.78 billion, a P/E ratio of 34.53 and a beta of 1.23. The company’s 50 day moving average price is $106.43 and its 200-day moving average price is $107.47.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $32.77 billion. During the same period in the prior year, the company posted ($0.78) earnings per share. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post $3.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.06%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
CVX has been the topic of a number of recent analyst reports. TheStreet raised shares of Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation reaffirmed a “buy” rating and set a $135.00 target price (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. BMO Capital Markets set a $130.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Scotiabank set a $114.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a report on Monday, May 1st. Finally, HSBC Holdings plc raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and cut their price objective for the company from $124.00 to $119.00 in a report on Monday, June 5th. They noted that the move was a valuation call. 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 company. Chevron Corporation currently has a consensus rating of “Buy” and an average price target of $116.80.
In related news, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the firm’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 transaction, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is owned by company insiders.
About Chevron Corporation
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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