Chevron Corporation (CVX) Stake Lowered by Trust Co. of Vermont
Trust Co. of Vermont lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 2.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 103,278 shares of the oil and gas company’s stock after selling 2,804 shares during the period. Chevron Corporation makes up approximately 1.1% of Trust Co. of Vermont’s investment portfolio, making the stock its 21st largest position. Trust Co. of Vermont’s holdings in Chevron Corporation were worth $10,775,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Thompson Davis & CO. Inc. increased its holdings in Chevron Corporation by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in Chevron Corporation in the first quarter valued at approximately $140,000. Daiwa SB Investments Ltd. lifted its stake in Chevron Corporation by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares in the last quarter. New Capital Management LP lifted its stake in Chevron Corporation by 0.3% during the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA lifted its stake in Chevron Corporation by 8.8% during the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 160 shares in the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.
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In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was 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 owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James William Johnson sold 31,000 shares of the firm’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 approximately $1,217,480. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock valued at $8,008,343 in the last three months. 0.38% of the stock is currently owned by company insiders.
Chevron Corporation (NYSE CVX) traded up 0.65% on Tuesday, hitting $118.19. 2,059,682 shares of the company were exchanged. The firm has a 50 day moving average of $111.71 and a 200-day moving average of $107.63. Chevron Corporation has a 52-week low of $99.61 and a 52-week high of $119.00. The stock has a market cap of $223.97 billion, a PE ratio of 38.32 and a beta of 1.24. Chevron Corporation also saw some unusual options trading on Monday. Investors acquired 9,406 call options on the stock. This represents an increase of 100% compared to the typical volume of 4,703 call options.
Chevron Corporation (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same period in the previous year, the company earned ($0.78) earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts expect that Chevron Corporation will post $3.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is 140.26%.
CVX has been the topic of several research analyst reports. Wells Fargo & Company reiterated a “market perform” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Chevron Corporation in a report on Tuesday. Bank of America Corporation increased their target price on Chevron Corporation from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Jefferies Group LLC set a $135.00 target price on Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Chevron Corporation currently has an average rating of “Buy” and a consensus price target of $116.68.
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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