Kidder Stephen W Sells 150 Shares of Chevron Corporation (CVX)
Kidder Stephen W reduced its position in shares of Chevron Corporation (NYSE:CVX) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,650 shares of the oil and gas company’s stock after selling 150 shares during the period. Kidder Stephen W’s holdings in Chevron Corporation were worth $1,358,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Curbstone Financial Management Corp raised its holdings in Chevron Corporation by 0.7% during the first quarter. Curbstone Financial Management Corp now owns 8,145 shares of the oil and gas company’s stock worth $875,000 after acquiring an additional 54 shares in the last quarter. Burns J W & Co. Inc. NY raised its holdings in Chevron Corporation by 0.6% during the first quarter. Burns J W & Co. Inc. NY now owns 62,645 shares of the oil and gas company’s stock worth $6,726,000 after acquiring an additional 349 shares in the last quarter. Pure Financial Advisors Inc. raised its holdings in Chevron Corporation by 2.9% during the first quarter. Pure Financial Advisors Inc. now owns 2,886 shares of the oil and gas company’s stock worth $310,000 after acquiring an additional 80 shares in the last quarter. Confluence Investment Management LLC raised its holdings in Chevron Corporation by 7.7% during the first quarter. Confluence Investment Management LLC now owns 788,540 shares of the oil and gas company’s stock worth $84,666,000 after acquiring an additional 56,171 shares in the last quarter. Finally, Trust Co raised its holdings in Chevron Corporation by 2.2% during the fourth quarter. Trust Co now owns 73,617 shares of the oil and gas company’s stock worth $8,665,000 after acquiring an additional 1,611 shares in the last quarter. 62.84% of the stock is owned by institutional investors.
Shares of Chevron Corporation (NYSE:CVX) traded down 0.91% during midday trading on Friday, reaching $110.78. The company had a trading volume of 4,033,102 shares. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00. The company has a 50 day moving average price of $108.14 and a 200-day moving average price of $107.10. The firm has a market capitalization of $209.93 billion, a P/E ratio of 35.92 and a beta of 1.23. Chevron Corporation also was the target of some unusual options trading activity on Thursday. Stock investors purchased 11,953 put options on the company. This is an increase of approximately 167% compared to the average volume of 4,471 put 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the previous year, the firm posted ($0.78) EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post $3.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be issued a dividend of $1.08 per share. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.90%. Chevron Corporation’s payout ratio is 140.26%.
In other 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 transaction of $3,431,080.00. Following the completion of the transaction, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Insiders have sold a total of 72,312 shares of company stock worth $8,008,343 in the last three months. Insiders own 0.38% of the company’s stock.
CVX has been the topic of several analyst reports. Scotiabank reiterated a “buy” rating and set a $113.00 target price on shares of Chevron Corporation in a report on Friday, June 30th. Jefferies Group LLC set a $135.00 target price on Chevron Corporation and gave the stock a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets set a $130.00 target price on Chevron Corporation and gave the stock a “buy” rating in a report on Thursday, June 22nd. HSBC Holdings plc upgraded Chevron Corporation from a “hold” rating to a “buy” rating and dropped their target price 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. Finally, Citigroup Inc. dropped their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $116.40.
About Chevron Corporation
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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