Chevron Corporation (CVX) Shares Sold by Adirondack Trust Co.
Adirondack Trust Co. cut its position in shares of Chevron Corporation (NYSE:CVX) by 16.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the oil and gas company’s stock after selling 2,398 shares during the quarter. Chevron Corporation accounts for about 1.0% of Adirondack Trust Co.’s investment portfolio, making the stock its 26th largest holding. Adirondack Trust Co.’s holdings in Chevron Corporation were worth $1,304,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new stake in Chevron Corporation in the second quarter valued at $106,000. Thompson Davis & CO. Inc. lifted its stake in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the last quarter. Winfield Associates Inc. lifted its stake in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. lifted its stake in Chevron Corporation by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 1,140 shares during the last quarter. Finally, New Capital Management LP lifted its stake in Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 62.91% of the company’s stock.
CVX has been the topic of a number of recent research reports. UBS AG set a $105.00 target price on Chevron Corporation and gave the company a “neutral” rating in a research note on Wednesday, September 6th. Morgan Stanley raised their target price on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Zacks Investment Research cut Chevron Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Credit Suisse Group set a $123.00 target price on Chevron Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Jefferies Group LLC set a $130.00 target price on Chevron Corporation and gave the company a “buy” rating in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $120.63.
In related news, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction dated 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 transaction, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Insiders sold a total of 29,041 shares of company stock worth $3,453,285 in the last three months. 0.38% of the stock is currently owned by company insiders.
Chevron Corporation (CVX) opened at $117.18 on Friday. The firm has a market capitalization of $222,682.59, a PE ratio of 32.84, a P/E/G ratio of 3.92 and a beta of 1.22. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $120.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. Chevron Corporation’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. analysts expect that Chevron Corporation will post 4.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.69%. Chevron Corporation’s dividend payout ratio is currently 125.95%.
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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