Grimes & Company Inc. reduced its position in Chevron Corp. (NYSE:CVX) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,383 shares of the company’s stock after selling 3,153 shares during the period. Grimes & Company Inc.’s holdings in Chevron Corp. were worth $3,127,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of CVX. Thompson Davis & CO. Inc. raised its position in shares of Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock worth $100,000 after buying an additional 729 shares in the last quarter. Solaris Asset Management LLC raised its position in shares of Chevron Corp. by 42.6% in the third quarter. Solaris Asset Management LLC now owns 1,005 shares of the company’s stock worth $103,000 after buying an additional 300 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock worth $121,000 after buying an additional 621 shares in the last quarter. Camarda Financial Advisors LLC purchased a new position in shares of Chevron Corp. during the second quarter worth approximately $122,000. Finally, Wealthcare Capital Management LLC purchased a new position in shares of Chevron Corp. during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 61.22% of the company’s stock.

Institutional Ownership by Quarter for Chevron Corp. (NYSE:CVX)

Chevron Corp. (NYSE:CVX) traded down 1.05% on Tuesday, reaching $109.34. 7,461,824 shares of the company’s stock traded hands. The firm’s market cap is $206.41 billion. The stock’s 50 day moving average is $105.24 and its 200 day moving average is $102.78. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $111.57.

Chevron Corp. (NYSE:CVX) last issued its earnings results on Friday, October 28th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.29. The business had revenue of $30.14 billion for the quarter, compared to the consensus estimate of $29.71 billion. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. On average, equities research analysts predict that Chevron Corp. will post $1.34 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.95%. This is an increase from Chevron Corp.’s previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, November 16th. Chevron Corp.’s payout ratio is presently -540.00%.

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Several research firms have recently weighed in on CVX. Exane BNP Paribas began coverage on shares of Chevron Corp. in a research report on Monday, October 10th. They issued a “neutral” rating and a $102.00 target price for the company. Zacks Investment Research downgraded shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. HSBC reissued a “buy” rating and issued a $120.00 target price on shares of Chevron Corp. in a research report on Sunday, October 16th. Jefferies Group reissued a “buy” rating and issued a $120.00 target price (up previously from $116.00) on shares of Chevron Corp. in a research report on Tuesday, November 1st. Finally, Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Chevron Corp. presently has a consensus rating of “Buy” and an average target price of $108.61.

In related news, Director Linnet F. Deily sold 5,637 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of the business’s stock in a transaction on 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 owns 28,911 shares in the company, valued at $3,180,210. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

About Chevron Corp.

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.

5 Day Chart for NYSE:CVX

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