Beck Mack & Oliver LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,050 shares of the oil and gas company’s stock after selling 2,405 shares during the period. Beck Mack & Oliver LLC’s holdings in Chevron were worth $8,231,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 during the period. BlackRock Inc. raised its position in shares of Chevron by 1.6% during the 2nd 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 during the period. Capital World Investors raised its position in shares of 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 during the period. Northern Trust Corp raised its position in shares of Chevron by 0.6% during the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after purchasing an additional 157,021 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Chevron by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after purchasing an additional 49,083 shares during the period. Hedge funds and other institutional investors own 63.80% of the company’s stock.
In other Chevron news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock valued at $36,540,822 over the last three months. Corporate insiders own 0.38% of the company’s stock.
Several analysts have recently commented on CVX shares. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Scotiabank reiterated a “buy” rating on shares of Chevron in a report on Friday, September 15th. Goldman Sachs Group reiterated a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Cowen reiterated a “buy” rating and issued a $122.00 price target on shares of Chevron in a report on Tuesday, September 19th. Finally, Jefferies Group reiterated a “buy” rating and issued a $130.00 price target on shares of Chevron in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $125.15.
Chevron Corporation (NYSE:CVX) opened at $128.11 on Friday. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $128.94. The company has a market cap of $243,330.00, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 2.99 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period last year, the company posted $0.68 EPS. The business’s revenue was up 20.1% on a year-over-year basis. sell-side analysts anticipate that Chevron Corporation will post 4.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were paid a $1.08 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.37%. Chevron’s payout ratio is currently 125.95%.
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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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