Ffcm LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 3,889.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 59,886 shares of the oil and gas company’s stock after acquiring an additional 58,385 shares during the quarter. Chevron comprises 1.6% of Ffcm LLC’s portfolio, making the stock its 20th largest holding. Ffcm LLC’s holdings in Chevron were worth $7,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Harbour Capital Advisors LLC boosted its stake in Chevron by 10,213.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after purchasing an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. boosted its stake in Chevron by 2.9% during the 2nd 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 boosted its stake in Chevron by 9.8% during the 2nd 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 boosted its stake in shares of Chevron by 669.9% during the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after acquiring an additional 2,810,928 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Chevron by 305,886.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock worth $307,042,000 after acquiring an additional 2,612,270 shares in the last quarter. Hedge funds and other institutional investors own 64.06% of the company’s stock.
In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now directly owns 17,981 shares in the company, valued at $2,067,994.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael K. Wirth sold 110,771 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total value of $12,868,267.07. Following the transaction, the executive vice president now owns 110,771 shares in the company, valued at $12,868,267.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 287,271 shares of company stock valued at $33,335,800. 0.38% of the stock is owned by corporate insiders.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The firm had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. During the same quarter in the prior year, the business posted $0.22 earnings per share. Chevron’s revenue was up 19.4% on a year-over-year basis. analysts predict that Chevron Co. will post 6.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.95%. This is a positive change from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 89.07%.
CVX has been the subject of several research reports. Wolfe Research raised Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $124.92 price objective for the company. in a research note on Monday, October 16th. Macquarie raised Chevron from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research report on Tuesday, October 17th. BMO Capital Markets cut Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 target price for the company. in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Societe Generale cut Chevron from a “buy” rating to a “hold” rating and raised their target price for the stock from $120.00 to $130.00 in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $130.30.
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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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