Chevron Corporation (CVX) Position Raised by KBC Group NV
KBC Group NV lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 793,298 shares of the oil and gas company’s stock after buying an additional 24,093 shares during the period. Chevron Corporation makes up 0.8% of KBC Group NV’s portfolio, making the stock its 16th biggest position. KBC Group NV’s holdings in Chevron Corporation were worth $82,764,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CVX. Shine Investment Advisory Services Inc. purchased a new position in Chevron Corporation in the second quarter worth about $106,000. Thompson Davis & CO. Inc. boosted its position 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 worth $123,000 after purchasing an additional 191 shares during the last quarter. Winfield Associates Inc. boosted its position 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 worth $136,000 after purchasing an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. boosted its position 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 worth $146,000 after purchasing an additional 1,140 shares during the last quarter. Finally, New Capital Management LP boosted its position 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 worth $156,000 after purchasing an additional 4 shares during the last quarter. 63.15% of the stock is currently owned by institutional investors.
In other news, VP R. Hewitt Pate sold 25,500 shares of the business’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 completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Insiders sold a total of 179,979 shares of company stock valued at $20,905,804 over the last quarter. Company insiders own 0.38% of the company’s stock.
CVX has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Barclays PLC lifted their price objective on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $119.00 price objective on Chevron Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Jefferies Group LLC set a $130.00 price objective on Chevron Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, Scotiabank reissued a “buy” rating on shares of Chevron Corporation in a research note on Friday, September 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Chevron Corporation currently has an average rating of “Hold” and an average price target of $120.54.
Chevron Corporation (NYSE:CVX) opened at $115.91 on Thursday. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $120.89. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $218,750.89, a price-to-earnings ratio of 32.26, a P/E/G ratio of 3.80 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last issued its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities analysts expect that Chevron Corporation will post 4.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s dividend payout ratio is 125.95%.
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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