Chevron Corporation (NYSE:CVX) Shares Bought by Atalanta Sosnoff Capital LLC
Atalanta Sosnoff Capital LLC raised its position in Chevron Corporation (NYSE:CVX) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 495,763 shares of the oil and gas company’s stock after buying an additional 75,719 shares during the period. Chevron Corporation accounts for about 1.8% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 17th largest position. Atalanta Sosnoff Capital LLC’s holdings in Chevron Corporation were worth $51,723,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BTIM Corp. raised its position in Chevron Corporation by 1.8% in the second quarter. BTIM Corp. now owns 146,379 shares of the oil and gas company’s stock valued at $15,271,000 after buying an additional 2,526 shares in the last quarter. Kessler Investment Group LLC raised its position in Chevron Corporation by 12,934.1% in the second quarter. Kessler Investment Group LLC now owns 16,032 shares of the oil and gas company’s stock valued at $1,673,000 after buying an additional 15,909 shares in the last quarter. Sit Investment Associates Inc. raised its position in Chevron Corporation by 591.5% in the second quarter. Sit Investment Associates Inc. now owns 76,719 shares of the oil and gas company’s stock valued at $8,004,000 after buying an additional 65,624 shares in the last quarter. Hengehold Capital Management LLC raised its position in Chevron Corporation by 5.0% in the second quarter. Hengehold Capital Management LLC now owns 26,895 shares of the oil and gas company’s stock valued at $2,806,000 after buying an additional 1,292 shares in the last quarter. Finally, Patten & Patten Inc. TN raised its position in Chevron Corporation by 1.1% in the second quarter. Patten & Patten Inc. TN now owns 72,666 shares of the oil and gas company’s stock valued at $7,581,000 after buying an additional 799 shares in the last quarter. 62.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (NYSE CVX) traded up 0.298% during trading on Monday, hitting $109.555. The stock had a trading volume of 1,218,662 shares. The stock’s 50-day moving average is $106.01 and its 200-day moving average is $107.75. The stock has a market capitalization of $207.61 billion, a P/E ratio of 35.524 and a beta of 1.23. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the previous year, the business earned ($0.78) earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. Analysts predict that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.95%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
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Several brokerages recently commented on CVX. Zacks Investment Research downgraded Chevron Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. HSBC Holdings plc upgraded Chevron Corporation from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $124.00 to $119.00 in a report on Monday, June 5th. They noted that the move was a valuation call. TheStreet upgraded Chevron Corporation from a “c” rating to a “b” rating in a report on Tuesday, May 2nd. Finally, BMO Capital Markets set a $120.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a report on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $116.80.
In related news, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.
Chevron Corporation 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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