Manchester Capital Management LLC reduced its position in Chevron Co. (NYSE:CVX) by 41.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,867 shares of the oil and gas company’s stock after selling 3,432 shares during the quarter. Manchester Capital Management LLC’s holdings in Chevron were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CVX. State Street Corp increased its position in Chevron by 2.6% in the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after buying an additional 2,914,316 shares during the last quarter. London Co. of Virginia increased its position in Chevron by 53.8% in the second quarter. London Co. of Virginia now owns 2,499,299 shares of the oil and gas company’s stock worth $223,012,000 after buying an additional 873,787 shares during the last quarter. TD Asset Management Inc. increased its position in Chevron by 43.4% in the second quarter. TD Asset Management Inc. now owns 2,491,366 shares of the oil and gas company’s stock worth $222,304,000 after buying an additional 753,910 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in shares of Chevron in the second quarter valued at $55,644,000. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Chevron in the second quarter valued at $55,055,000. 64.01% of the stock is owned by institutional investors and hedge funds.
In related news, insider David A. Inchausti sold 5,750 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total transaction of $529,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.28% of the stock is owned by insiders.
Several equities analysts have recently weighed in on CVX shares. Scotia Howard Weill cut Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price target for the company. in a research report on Thursday, September 24th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price target for the company. in a research report on Wednesday, September 23rd. Raymond James lifted their price target on Chevron from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Monday, September 28th. Finally, SunTrust Banks began coverage on Chevron in a research note on Thursday, July 23rd. They set a “buy” rating and a $120.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $107.48.
NYSE CVX opened at $68.80 on Friday. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $122.94. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $73.82 and a 200-day moving average of $85.10. The firm has a market cap of $128.47 billion, a PE ratio of -14.76 and a beta of 1.26.
Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. During the same period last year, the firm posted $1.77 EPS. The company’s revenue was down 64.1% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post -0.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 7.50%. Chevron’s dividend payout ratio is presently 82.30%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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