Gilman Hill Asset Management LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,191 shares of the oil and gas company’s stock after selling 1,371 shares during the period. Chevron makes up approximately 1.8% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Gilman Hill Asset Management LLC’s holdings in Chevron were worth $4,370,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the period. BlackRock Inc. boosted its position in shares of Chevron by 1.6% during the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the period. Capital World Investors boosted its position in shares of Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the period. Northern Trust Corp boosted its position in shares of Chevron by 0.6% during the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after buying an additional 157,021 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Chevron by 0.3% during the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after acquiring an additional 49,083 shares in the last quarter. Institutional investors own 63.77% of the company’s stock.
CVX has been the subject of several research analyst reports. Jefferies Group set a $130.00 price target on shares of Chevron and gave the company a “buy” rating in a research note on Tuesday, August 29th. UBS Group set a $105.00 price target on shares of Chevron and gave the company a “neutral” rating in a research note on Wednesday, September 6th. Scotiabank reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, September 15th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Finally, Cowen reaffirmed a “buy” rating and set a $122.00 price target on shares of Chevron in a research note on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $124.22.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. Chevron’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. analysts forecast that Chevron Corporation will post 4.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 125.95%.
In related news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the transaction, 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. Insiders sold 314,000 shares of company stock valued at $36,540,822 in the last three months. 0.38% of the stock is currently owned by insiders.
Chevron 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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