Chevron Corp. (CVX) Position Boosted by F&V Capital Management LLC
F&V Capital Management LLC boosted its position in shares of Chevron Corp. (NYSE:CVX) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,217 shares of the company’s stock after buying an additional 1,060 shares during the period. Chevron Corp. comprises 2.4% of F&V Capital Management LLC’s investment portfolio, making the stock its 21st largest position. F&V Capital Management LLC’s holdings in Chevron Corp. were worth $3,419,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in Chevron Corp. by 272.6% in the second quarter. Capital Research Global Investors now owns 14,239,856 shares of the company’s stock worth $1,492,764,000 after buying an additional 10,417,906 shares during the period. Jarislowsky Fraser Ltd raised its position in Chevron Corp. by 411.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,793,376 shares of the company’s stock worth $221,830,000 after buying an additional 3,051,817 shares during the period. Vanguard Group Inc. raised its position in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock worth $13,087,581,000 after buying an additional 2,824,724 shares during the period. Emerald Acquisition Ltd. purchased a new position in Chevron Corp. during the second quarter worth approximately $227,457,000. Finally, BlackRock Fund Advisors raised its position in Chevron Corp. by 6.5% in the second quarter. BlackRock Fund Advisors now owns 32,652,251 shares of the company’s stock worth $3,422,935,000 after buying an additional 1,983,103 shares during the period. Hedge funds and other institutional investors own 61.22% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.45% during midday trading on Monday, reaching $110.50. 6,406,714 shares of the company’s stock were exchanged. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $111.57. The company’s market cap is $208.60 billion. The stock’s 50 day moving average price is $105.24 and its 200 day moving average price is $102.78.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, October 28th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.29. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The firm earned $30.14 billion during the quarter, compared to analysts’ expectations of $29.71 billion. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. Equities analysts anticipate that Chevron Corp. will post $1.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This is a boost from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.88%. Chevron Corp.’s payout ratio is currently -540.00%.
CVX has been the subject of several research reports. Credit Suisse Group AG reiterated a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research report on Thursday, September 8th. BMO Capital Markets initiated coverage on shares of Chevron Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price for the company. Piper Jaffray Cos. upgraded shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a research report on Monday, October 10th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $108.61.
In related news, Director Linnet F. Deily sold 5,637 shares of Chevron Corp. stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pierre R. Breber sold 10,000 shares of Chevron Corp. stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the transaction, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The disclosure for this sale can be found here. Corporate 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.
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