Nisa Investment Advisors LLC Boosts Position in Chevron Corp. (CVX)
Nisa Investment Advisors LLC boosted its position in shares of Chevron Corp. (NYSE:CVX) by 4.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 721,124 shares of the company’s stock after buying an additional 33,034 shares during the period. Chevron Corp. comprises approximately 1.0% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 11th largest position. Nisa Investment Advisors LLC’s holdings in Chevron Corp. were worth $75,595,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CVX. CHURCHILL MANAGEMENT Corp purchased a new stake in Chevron Corp. during the second quarter worth about $2,118,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Chevron Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,644,631 shares of the company’s stock worth $172,407,000 after buying an additional 11,249 shares during the period. Arizona State Retirement System boosted its stake in shares of Chevron Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 730,403 shares of the company’s stock worth $69,680,000 after buying an additional 13,100 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Chevron Corp. during the first quarter worth $55,733,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Chevron Corp. by 114.4% in the first quarter. Canada Pension Plan Investment Board now owns 600,443 shares of the company’s stock worth $57,282,000 after buying an additional 320,400 shares during the period. Institutional investors and hedge funds own 62.24% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 1.63% on Friday, reaching $102.92. The company’s stock had a trading volume of 9,431,524 shares. The firm’s 50-day moving average price is $101.06 and its 200 day moving average price is $100.84. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58. The company’s market cap is $194.16 billion.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Equities analysts anticipate that Chevron Corp. will post $1.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.16%. The ex-dividend date was Wednesday, August 17th. Chevron Corp.’s payout ratio is presently -1,097.44%.
A number of analysts have weighed in on the company. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target on the stock. in a research report on Monday, June 20th. Zacks Investment Research cut Chevron Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Piper Jaffray Cos. upgraded Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their price target for the company from $110.00 to $117.00 in a research report on Tuesday, August 9th. Morgan Stanley reiterated a “hold” rating and issued a $85.00 price target on shares of Chevron Corp. in a research report on Wednesday, June 8th. Finally, Jefferies Group reiterated a “buy” rating and issued a $116.00 price target (up from $114.00) on shares of Chevron Corp. in a research report on Wednesday, July 6th. Twelve research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $105.53.
In other news, insider Michael K. Wirth sold 125,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $100.47, for a total value of $12,558,750.00. Following the transaction, the insider now directly owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $98.77, for a total value of $2,074,170.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Chevron Corp. 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.
Receive News & Stock Ratings for Chevron Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corp. and related stocks with our FREE daily email newsletter.