First Quadrant L P CA Trims Position in Chevron Corporation (CVX)

First Quadrant L P CA lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,820 shares of the oil and gas company’s stock after selling 14,759 shares during the quarter. First Quadrant L P CA’s holdings in Chevron were worth $19,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC lifted its holdings in shares of Chevron by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after buying an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. raised its stake in Chevron by 2.9% in 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 purchasing an additional 3,920,240 shares in the last quarter. Capital World Investors raised its stake in Chevron by 9.8% in 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 purchasing an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC raised its stake in Chevron by 669.9% in the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after purchasing an additional 2,810,928 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Chevron by 1.6% in 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 purchasing an additional 1,975,865 shares in the last quarter. 63.80% of the stock is currently owned by institutional investors and hedge funds.

Chevron Corporation (NYSE:CVX) opened at $125.19 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $238,523.38, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 3.62 and a beta of 1.21. Chevron Corporation has a 52-week low of $102.55 and a 52-week high of $126.20.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. equities research analysts forecast that Chevron Corporation will post 4.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, November 16th. Chevron’s dividend payout ratio is currently 125.95%.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 target price on the stock in a research note on Tuesday, December 26th. Scotiabank reaffirmed a “buy” rating and issued a $130.00 target price on shares of Chevron in a research note on Friday, December 22nd. Royal Bank of Canada set a $110.00 target price on shares of Chevron and gave the company a “sell” rating in a research note on Wednesday, December 20th. Finally, Cowen reiterated an “outperform” rating and set a $160.00 price target (up from $122.00) on shares of Chevron in a research report on Thursday, December 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Chevron has an average rating of “Hold” and a consensus target price of $125.15.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction dated Thursday, November 16th. The stock was 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 approximately $2,067,994.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the transaction, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock valued at $36,540,822 in the last three months. Insiders own 0.38% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This report was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://www.com-unik.info/2017/12/31/first-quadrant-l-p-ca-trims-position-in-chevron-corporation-cvx.html.

About Chevron

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

What are top analysts saying about Chevron? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Chevron and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit