Chevron Corporation (CVX) Position Increased by Prospera Financial Services Inc
Prospera Financial Services Inc raised its position in shares of Chevron Corporation (NYSE:CVX) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,936 shares of the oil and gas company’s stock after buying an additional 2,547 shares during the period. Chevron Corporation accounts for 0.6% of Prospera Financial Services Inc’s holdings, making the stock its 20th largest position. Prospera Financial Services Inc’s holdings in Chevron Corporation were worth $3,839,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CVX. First Wilshire Securities Management Inc. purchased a new position in shares of Chevron Corporation during the fourth quarter worth $218,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Chevron Corporation by 59.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 322,265 shares of the oil and gas company’s stock worth $37,931,000 after buying an additional 119,721 shares in the last quarter. Bridgeworth LLC purchased a new position in shares of Chevron Corporation during the fourth quarter worth $1,150,000. CAMG Solamere Management LLC purchased a new position in shares of Chevron Corporation during the fourth quarter worth $2,186,000. Finally, Cypress Wealth Advisors LLC boosted its position in shares of Chevron Corporation by 2.8% in the fourth quarter. Cypress Wealth Advisors LLC now owns 22,669 shares of the oil and gas company’s stock worth $2,668,000 after buying an additional 608 shares in the last quarter. 62.75% of the stock is owned by institutional investors.
Shares of Chevron Corporation (CVX) traded down 0.28% during mid-day trading on Wednesday, reaching $107.19. The company’s stock had a trading volume of 1,534,991 shares. The company has a market capitalization of $203.13 billion, a PE ratio of 34.76 and a beta of 1.23. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The firm’s 50 day moving average is $106.24 and its 200-day moving average is $107.52. Chevron Corporation also saw unusually large options trading on Tuesday. Stock investors acquired 35,638 call options on the stock. This is an increase of 544% compared to the average volume of 5,534 call options.
Chevron Corporation (NYSE:CVX) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same period in the prior year, the firm posted ($0.78) EPS. The business’s revenue was up 17.8% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post $3.80 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid 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 dividend yield of 3.98%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
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A number of research analysts have recently weighed in on CVX shares. TheStreet upgraded Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation restated a “buy” rating and issued a $135.00 price target (down previously from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. BMO Capital Markets set a $130.00 price target on Chevron Corporation and gave the company a “buy” rating in a research report on Thursday, June 22nd. Scotiabank set a $114.00 price target on Chevron Corporation and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, HSBC Holdings plc upgraded Chevron Corporation from a “hold” rating to a “buy” rating and dropped their price target for the company from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $116.80.
In other news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the sale, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the sale, the chief financial officer now owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
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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