Chevron Corporation (CVX) Position Reduced by Thompson Investment Management Inc.
Thompson Investment Management Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,619 shares of the oil and gas company’s stock after selling 2,119 shares during the period. Chevron Corporation accounts for approximately 1.3% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Thompson Investment Management Inc.’s holdings in Chevron Corporation were worth $6,616,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the stock. Stoneridge Investment Partners LLC acquired a new stake in shares of Chevron Corporation during the first quarter valued at approximately $387,000. WASHINGTON TRUST Co increased its stake in shares of Chevron Corporation by 4.0% in the first quarter. WASHINGTON TRUST Co now owns 117,220 shares of the oil and gas company’s stock valued at $12,586,000 after buying an additional 4,477 shares in the last quarter. Willingdon Wealth Management increased its stake in shares of Chevron Corporation by 6.4% in the first quarter. Willingdon Wealth Management now owns 28,211 shares of the oil and gas company’s stock valued at $3,029,000 after buying an additional 1,687 shares in the last quarter. Usca Ria LLC increased its stake in shares of Chevron Corporation by 1.9% in the first quarter. Usca Ria LLC now owns 39,453 shares of the oil and gas company’s stock valued at $4,236,000 after buying an additional 724 shares in the last quarter. Finally, One Capital Management LLC increased its stake in shares of Chevron Corporation by 3.6% in the first quarter. One Capital Management LLC now owns 21,902 shares of the oil and gas company’s stock valued at $2,352,000 after buying an additional 759 shares in the last quarter. Institutional investors and hedge funds own 62.84% of the company’s stock.
Chevron Corporation (CVX) traded down 0.420% on Monday, reaching $107.775. The company had a trading volume of 567,922 shares. The firm has a market capitalization of $204.23 billion, a P/E ratio of 34.946 and a beta of 1.23. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00. The company’s 50-day moving average price is $106.68 and its 200 day moving average price is $107.28.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.78) earnings per share. On average, equities analysts forecast that Chevron Corporation will post $3.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio is presently 140.26%.
Several analysts have commented on the company. Piper Jaffray Companies set a $119.00 target price on Chevron Corporation and gave the company a “buy” rating in a research note on Friday. Credit Suisse Group set a $123.00 price target on Chevron Corporation and gave the stock a “buy” rating in a research note on Friday. Jefferies Group LLC restated a “buy” rating and issued a $135.00 price target on shares of Chevron Corporation in a research note on Wednesday, August 23rd. Royal Bank Of Canada set a $100.00 price target on Chevron Corporation and gave the stock a “sell” rating in a research note on Friday, August 18th. Finally, BNP Paribas upgraded Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target on the stock in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Chevron Corporation presently has a consensus rating of “Buy” and an average target price of $117.22.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last three months, insiders sold 72,312 shares of company stock valued at $8,008,343. Company 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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