Mutual of Omaha Bank Wealth Management reduced its position in shares of Chevron Corporation (NYSE:CVX) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,160 shares of the oil and gas company’s stock after selling 245 shares during the period. Chevron Corporation accounts for approximately 1.3% of Mutual of Omaha Bank Wealth Management’s portfolio, making the stock its 17th largest position. Mutual of Omaha Bank Wealth Management’s holdings in Chevron Corporation were worth $3,772,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CVX. Thompson Davis & CO. Inc. boosted its holdings in shares of Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares during the period. Americafirst Capital Management LLC purchased a new stake in shares of Chevron Corporation during the first quarter worth about $140,000. Daiwa SB Investments Ltd. boosted its holdings in shares of Chevron Corporation by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares during the period. New Capital Management LP boosted its holdings in shares of Chevron Corporation by 0.3% during the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4 shares during the period. Finally, Marshall & Sullivan Inc. WA boosted its holdings in shares of Chevron Corporation by 8.8% during the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 160 shares during the period. Institutional investors own 62.84% of the company’s stock.
CVX has been the subject of a number of analyst reports. Scotiabank reiterated a “buy” rating and set a $113.00 target price on shares of Chevron Corporation in a report on Friday, June 30th. Jefferies Group LLC set a $135.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets set a $130.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a report on Thursday, June 22nd. HSBC Holdings plc upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and dropped their target price for the stock from $124.00 to $119.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. dropped their target price on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Chevron Corporation presently has an average rating of “Buy” and an average target price of $116.40.
Chevron Corporation (CVX) traded up 0.16% during trading on Friday, hitting $114.63. 8,387,623 shares of the stock traded hands. The firm has a market cap of $217.22 billion, a PE ratio of 37.17 and a beta of 1.23. Chevron Corporation has a 12 month low of $97.68 and a 12 month high of $119.00. The firm has a 50-day moving average price of $109.46 and a 200 day moving average price of $107.20.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the prior year, the company earned ($0.78) EPS. The company’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post $3.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were given a $1.08 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.77%. Chevron Corporation’s payout ratio is presently 140.26%.
In other news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock valued at $8,008,343 in the last ninety days. Corporate 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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