Chevron Corporation (CVX) Position Reduced by Hoertkorn Richard Charles
Hoertkorn Richard Charles lessened its position in Chevron Corporation (NYSE:CVX) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,858 shares of the oil and gas company’s stock after selling 250 shares during the quarter. Chevron Corporation comprises about 1.1% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 28th biggest position. Hoertkorn Richard Charles’ holdings in Chevron Corporation were worth $1,654,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. New Capital Management LP raised its holdings in Chevron Corporation by 0.3% in the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 4 shares during the period. Haverford Financial Services Inc. raised its holdings in Chevron Corporation by 0.7% in the 1st quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after acquiring an additional 16 shares during the period. Orgel Wealth Management LLC raised its holdings in Chevron Corporation by 0.8% in the 1st quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after acquiring an additional 18 shares during the period. Northstar Group Inc. raised its holdings in Chevron Corporation by 0.5% in the 2nd quarter. Northstar Group Inc. now owns 3,714 shares of the oil and gas company’s stock worth $388,000 after acquiring an additional 19 shares during the period. Finally, Curbstone Financial Management Corp raised its holdings in Chevron Corporation by 0.3% in the 2nd quarter. Curbstone Financial Management Corp now owns 8,170 shares of the oil and gas company’s stock worth $852,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.
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In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Insiders have sold 72,312 shares of company stock worth $8,008,343 over the last quarter. Corporate insiders own 0.38% of the company’s stock.
Several brokerages recently commented on CVX. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Chevron Corporation in a report on Tuesday. Wells Fargo & Company restated a “market perform” rating and issued a $108.00 price target (up from $100.00) on shares of Chevron Corporation in a research report on Tuesday. Bank of America Corporation restated a “buy” rating and issued a $125.00 price target (up from $120.00) on shares of Chevron Corporation in a research report on Tuesday. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron Corporation in a research report on Tuesday, September 19th. Finally, Cowen and Company restated a “buy” rating and issued a $122.00 price target on shares of Chevron Corporation in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $116.82.
Chevron Corporation (NYSE:CVX) traded up 0.727% during trading on Thursday, reaching $118.435. 1,877,714 shares of the company’s stock were exchanged. Chevron Corporation has a 52-week low of $99.61 and a 52-week high of $119.00. The stock’s 50 day moving average price is $112.23 and its 200 day moving average price is $107.77. The firm has a market cap of $224.43 billion, a P/E ratio of 38.403 and a beta of 1.24. Chevron Corporation also was the recipient of unusually large options trading activity on Monday. Investors purchased 9,406 call options on the company. This represents an increase of 100% compared to the typical daily volume of 4,703 call options.
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 analysts’ consensus estimates of $0.89 by $0.02. The firm 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%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.78) earnings per share. Equities research analysts anticipate that Chevron Corporation will post $3.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a dividend of $1.08 per share. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.67%. Chevron Corporation’s payout ratio is 140.26%.
Chevron Corporation 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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