Palladium Partners LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 0.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,262 shares of the oil and gas company’s stock after selling 564 shares during the quarter. Chevron Corporation comprises 1.4% of Palladium Partners LLC’s portfolio, making the stock its 20th largest position. Palladium Partners LLC’s holdings in Chevron Corporation were worth $17,554,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. HPM Partners LLC grew its holdings in Chevron Corporation by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 25,691 shares during the period. Lincoln National Corp lifted its position in Chevron Corporation by 33.3% during the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock valued at $8,859,000 after purchasing an additional 20,615 shares during the period. Adams Natural Resources Fund Inc. lifted its position in Chevron Corporation by 8.8% during the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock valued at $62,264,000 after purchasing an additional 48,100 shares during the period. Strategic Financial Group LLC lifted its position in Chevron Corporation by 6.0% during the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock valued at $964,000 after purchasing an additional 510 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in Chevron Corporation by 7.7% during the first quarter. Janney Montgomery Scott LLC now owns 504,112 shares of the oil and gas company’s stock valued at $54,127,000 after purchasing an additional 36,257 shares during the period. Institutional investors and hedge funds own 62.90% of the company’s stock.
A number of research analysts recently weighed in on the stock. Royal Bank Of Canada set a $100.00 price objective on shares of Chevron Corporation and gave the company a “sell” rating in a research report on Friday. TheStreet raised shares of Chevron Corporation from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Wells Fargo & Company reissued a “market perform” rating on shares of Chevron Corporation in a research note on Thursday, October 19th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and issued a $137.00 price objective on shares of Chevron Corporation in a research note on Thursday, October 19th. Finally, Morgan Stanley raised their target price on shares of Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $119.66.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction on 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 $4,866,018. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. In the last three months, insiders sold 97,812 shares of company stock valued at $11,068,343. 0.38% of the stock is owned by corporate insiders.
Shares of Chevron Corporation (CVX) opened at 113.54 on Monday. The stock has a market cap of $215.16 billion, a price-to-earnings ratio of 36.82 and a beta of 1.24. Chevron Corporation has a one year low of $100.95 and a one year high of $120.89. The company has a 50-day moving average of $117.09 and a 200 day moving average of $109.04.
Chevron Corporation (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same quarter last year, the company earned $0.68 earnings per share. Chevron Corporation’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post $4.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is currently 125.95%.
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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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