Boston Private Wealth LLC decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 251,820 shares of the oil and gas company’s stock after selling 1,756 shares during the period. Chevron accounts for about 1.0% of Boston Private Wealth LLC’s holdings, making the stock its 26th largest position. Boston Private Wealth LLC’s holdings in Chevron were worth $26,273,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. iAB Financial Bank lifted its position in shares of Chevron by 11.0% in the 2nd quarter. iAB Financial Bank now owns 24,815 shares of the oil and gas company’s stock worth $2,589,000 after acquiring an additional 2,459 shares during the period. Peddock Capital Advisors LLC lifted its position in shares of Chevron by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 62,313 shares of the oil and gas company’s stock worth $6,501,000 after buying an additional 454 shares during the period. Knowledge Leaders Capital LLC lifted its position in shares of Chevron by 0.9% during the 2nd quarter. Knowledge Leaders Capital LLC now owns 45,469 shares of the oil and gas company’s stock worth $4,744,000 after buying an additional 398 shares during the period. Wayne Hummer Investments L.L.C. lifted its position in shares of Chevron by 3.5% during the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 7,976 shares of the oil and gas company’s stock worth $832,000 after buying an additional 269 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Chevron by 1.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 2,789,884 shares of the oil and gas company’s stock worth $291,069,000 after buying an additional 30,744 shares during the period. 63.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Corporation (CVX) opened at $116.51 on Monday. The company has a market capitalization of $221,296.08, a price-to-earnings ratio of 32.64, a PEG ratio of 3.84 and a beta of 1.22. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $120.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.
Chevron (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. sell-side analysts predict that Chevron Corporation will post 4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.71%. Chevron’s dividend payout ratio (DPR) is currently 125.95%.
In related news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction 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 sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction on 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 sale, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at $4,554,646.74. The disclosure for this sale can be found here. Insiders sold a total of 179,979 shares of company stock valued at $20,905,804 over the last three months. Insiders own 0.38% of the company’s stock.
A number of equities research analysts recently weighed in on CVX shares. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron in a report on Thursday, August 3rd. Zacks Investment Research raised Chevron from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a report on Monday, August 7th. BidaskClub raised Chevron from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $108.00 price target (up from $100.00) on shares of Chevron in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $120.54.
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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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