Wetherby Asset Management Inc. Sells 300 Shares of Chevron Corporation (CVX)
Wetherby Asset Management Inc. lessened its stake in Chevron Corporation (NYSE:CVX) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,124 shares of the oil and gas company’s stock after selling 300 shares during the period. Chevron Corporation accounts for about 0.6% of Wetherby Asset Management Inc.’s holdings, making the stock its 25th biggest position. Wetherby Asset Management Inc.’s holdings in Chevron Corporation were worth $3,665,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new stake in Chevron Corporation in the 2nd quarter valued at approximately $106,000. Thompson Davis & CO. Inc. boosted 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 in the last quarter. Winfield Associates Inc. boosted its holdings in Chevron Corporation by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. boosted its holdings in Chevron Corporation by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares in the last quarter. Finally, New Capital Management LP boosted 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 valued at $156,000 after purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 62.91% of the company’s stock.
Chevron Corporation (NYSE CVX) opened at $117.24 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $222,302.72, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 3.97 and a beta of 1.22. Chevron Corporation has a twelve month low of $102.55 and a twelve month high of $120.89.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. equities research analysts anticipate that Chevron Corporation will post 4.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.68%. Chevron Corporation’s payout ratio is 125.95%.
In other news, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barclays PLC reaffirmed an “overweight” rating and issued a $125.00 price objective (up previously from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Chevron Corporation in a research note on Saturday, September 16th. Jefferies Group LLC reissued a “buy” rating and set a $137.00 price target (up previously from $113.54) on shares of Chevron Corporation in a research note on Monday, October 30th. Finally, Citigroup Inc. decreased their price target on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. Chevron Corporation currently has a consensus rating of “Hold” and an average target price of $120.45.
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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