Sterneck Capital Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,350 shares of the oil and gas company’s stock after selling 782 shares during the quarter. Sterneck Capital Management LLC’s holdings in Chevron Corporation were worth $1,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Centers of America Inc. grew its holdings in shares of Chevron Corporation by 3.0% during the first quarter. Investment Centers of America Inc. now owns 52,611 shares of the oil and gas company’s stock valued at $5,656,000 after buying an additional 1,537 shares during the last quarter. BlueCrest Capital Management Ltd grew its holdings in shares of Chevron Corporation by 4,074.4% during the first quarter. BlueCrest Capital Management Ltd now owns 108,326 shares of the oil and gas company’s stock valued at $11,631,000 after buying an additional 105,731 shares during the last quarter. Soros Fund Management LLC purchased a new stake in shares of Chevron Corporation during the first quarter valued at $1,063,000. New England Asset Management Inc. grew its holdings in shares of Chevron Corporation by 4.1% during the first quarter. New England Asset Management Inc. now owns 47,726 shares of the oil and gas company’s stock valued at $5,124,000 after buying an additional 1,859 shares during the last quarter. Finally, Day & Ennis LLC grew its holdings in shares of Chevron Corporation by 1.3% during the first quarter. Day & Ennis LLC now owns 8,527 shares of the oil and gas company’s stock valued at $916,000 after buying an additional 107 shares during the last quarter. 62.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on CVX shares. Scotiabank reissued a “buy” rating and set a $113.00 price objective on shares of Chevron Corporation in a report on Friday, June 30th. Jefferies Group LLC set a $135.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets set a $130.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a report on Thursday, June 22nd. HSBC Holdings plc raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and dropped their price objective for the company 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. lowered their price target on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Chevron Corporation has a consensus rating of “Buy” and an average target price of $116.40.

In other news, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is currently owned by corporate insiders.

Chevron Corporation (NYSE:CVX) traded up 1.286% on Monday, hitting $112.205. 2,284,586 shares of the company traded hands. The stock’s 50-day moving average is $108.29 and its 200 day moving average is $107.05. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00. The stock has a market cap of $212.63 billion, a PE ratio of 36.383 and a beta of 1.23.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.78) earnings per share. Equities research analysts expect that Chevron Corporation will post $3.87 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.90%. Chevron Corporation’s payout ratio is 140.26%.

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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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Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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