Chevron Corporation (CVX) Shares Bought by State of Tennessee Treasury Department
State of Tennessee Treasury Department increased its position in Chevron Corporation (NYSE:CVX) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,581 shares of the oil and gas company’s stock after buying an additional 27,496 shares during the period. Chevron Corporation makes up about 0.8% of State of Tennessee Treasury Department’s investment portfolio, making the stock its 20th largest position. State of Tennessee Treasury Department owned 0.08% of Chevron Corporation worth $159,077,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in CVX. Americafirst Capital Management LLC acquired a new stake in shares of Chevron Corporation during the first quarter valued at approximately $140,000. Merriman Wealth Management LLC acquired a new stake in shares of Chevron Corporation during the first quarter valued at approximately $224,000. Harwood Advisory Group LLC boosted its stake in shares of Chevron Corporation by 22.0% in the first quarter. Harwood Advisory Group LLC now owns 2,137 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 386 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Chevron Corporation during the first quarter valued at approximately $230,000. Finally, Haverford Financial Services Inc. boosted its stake in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 16 shares during the period. 62.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron Corporation (NYSE:CVX) traded up 1.06% on Friday, hitting $108.76. 3,660,250 shares of the company’s stock were exchanged. The firm has a market cap of $206.10 billion, a P/E ratio of 35.27 and a beta of 1.23. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00. The stock’s 50 day moving average is $107.30 and its 200 day moving average is $107.12.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (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 company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the previous year, the firm posted ($0.78) earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post $3.83 earnings per share for the current year.
The firm also recently declared 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 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is currently 140.26%.
CVX has been the topic of several analyst reports. Bank of America Corporation reissued a “buy” rating and set a $135.00 price target (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. Scotiabank reissued a “buy” rating and set a $113.00 price target on shares of Chevron Corporation in a research report on Friday, June 30th. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Saturday, June 24th. BMO Capital Markets set a $130.00 price target on shares of Chevron Corporation and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Finally, HSBC Holdings plc raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and cut their price target for the stock from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Chevron Corporation presently has a consensus rating of “Buy” and a consensus target price of $116.97.
In other news, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction that occurred 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 transaction 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 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 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. In the last three months, insiders sold 72,312 shares of company stock worth $8,008,343. 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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