Bremer Trust National Association decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 7.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,797 shares of the oil and gas company’s stock after selling 1,524 shares during the period. Bremer Trust National Association’s holdings in Chevron Corporation were worth $1,961,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Trust Co. of Oklahoma increased its stake in shares of Chevron Corporation by 4.6% during the first quarter. Trust Co. of Oklahoma now owns 23,281 shares of the oil and gas company’s stock valued at $2,500,000 after purchasing an additional 1,027 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Chevron Corporation by 9.4% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,591 shares of the oil and gas company’s stock valued at $1,352,000 after purchasing an additional 1,083 shares in the last quarter. Forte Capital LLC ADV increased its stake in shares of Chevron Corporation by 5.5% during the first quarter. Forte Capital LLC ADV now owns 5,908 shares of the oil and gas company’s stock valued at $634,000 after purchasing an additional 308 shares in the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Chevron Corporation by 0.7% during the first quarter. Chesley Taft & Associates LLC now owns 58,832 shares of the oil and gas company’s stock valued at $6,317,000 after purchasing an additional 410 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Chevron Corporation by 2.3% during the first quarter. Gulf International Bank UK Ltd now owns 589,765 shares of the oil and gas company’s stock valued at $63,323,000 after purchasing an additional 13,400 shares in the last quarter. 62.84% of the stock is owned by institutional investors and hedge funds.
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Several brokerages recently weighed in on CVX. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Saturday, June 24th. Barclays PLC reissued an “overweight” rating and set a $125.00 price target (up previously from $116.00) on shares of Chevron Corporation in a research report on Wednesday, July 12th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Chevron Corporation in a research report on Saturday. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Macquarie downgraded shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $116.40.
Shares of Chevron Corporation (NYSE:CVX) traded up 0.16% on Friday, hitting $114.63. 8,387,623 shares of the stock traded hands. The company has a market cap of $217.22 billion, a PE ratio of 37.17 and a beta of 1.23. The stock has a 50 day moving average of $109.46 and a 200 day moving average of $107.20. Chevron Corporation has a one year low of $97.68 and a one year high of $119.00.
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 for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.78) earnings per share. Equities analysts anticipate that Chevron Corporation will post $3.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were paid a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. Chevron Corporation’s payout ratio is currently 140.26%.
In other news, insider James William Johnson sold 31,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now owns 11,000 shares in the company, valued at $1,217,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, 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. Insiders sold 72,312 shares of company stock worth $8,008,343 in the last quarter. Company insiders own 0.38% of the company’s stock.
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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