Chevron Corp. (CVX) Shares Sold by Seaward Management Limited Partnership
Seaward Management Limited Partnership lowered its position in shares of Chevron Corp. (NYSE:CVX) by 61.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,703 shares of the company’s stock after selling 122,088 shares during the period. Seaward Management Limited Partnership’s holdings in Chevron Corp. were worth $7,791,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its stake 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 during the last quarter. Solaris Asset Management LLC increased its position in 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 during the period. Global X Management Co. LLC increased its position in 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 during the period. Camarda Financial Advisors LLC acquired a new position in Chevron Corp. during the second quarter worth approximately $122,000. Finally, Wealthcare Capital Management LLC acquired a new position in Chevron Corp. during the second quarter worth approximately $128,000. Institutional investors own 61.22% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 2.61% during midday trading on Wednesday, hitting $112.19. 8,984,605 shares of the stock were exchanged. The stock’s market cap is $211.79 billion. Chevron Corp. has a one year low of $75.33 and a one year high of $112.98. The firm has a 50-day moving average price of $105.24 and a 200-day moving average price of $102.78.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.29. The business had revenue of $30.14 billion for the quarter, compared to analyst estimates of $29.71 billion. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. On average, equities research analysts anticipate that Chevron Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be given a dividend of $1.08 per share. The ex-dividend date is Wednesday, November 16th. This is a positive change 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 3.95%. Chevron Corp.’s dividend payout ratio (DPR) is -540.00%.
A number of research analysts have commented on the stock. Vetr downgraded shares of Chevron Corp. from a “hold” rating to a “sell” rating and set a $106.05 target price on the stock. in a research report on Tuesday. Zacks Investment Research downgraded shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Jefferies Group reissued a “buy” rating and set a $120.00 target price (up previously from $116.00) on shares of Chevron Corp. in a research report on Tuesday, November 1st. Morgan Stanley raised shares of Chevron Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $113.00 to $130.00 in a research report on Tuesday, November 1st. Finally, Exane BNP Paribas began coverage on shares of Chevron Corp. in a research report on Monday, October 10th. They set a “neutral” rating and a $102.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $108.42.
In related news, insider Pierre R. Breber sold 10,000 shares of the 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 completion of the sale, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Linnet F. Deily sold 5,637 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total value of $593,406.99. The disclosure for this sale can be found here. 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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