Chevron Co. (CVX) Shares Sold by Skba Capital Management LLC
Skba Capital Management LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,880 shares of the oil and gas company’s stock after selling 1,700 shares during the period. Chevron comprises 3.0% of Skba Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Skba Capital Management LLC’s holdings in Chevron were worth $22,489,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Live Your Vision LLC grew its position in shares of Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 616 shares during the period. Point72 Asia Hong Kong Ltd lifted its stake in shares of Chevron by 20,716.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 1,243 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its stake in shares of Chevron by 45.4% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 462 shares in the last quarter. First National Bank of Hutchinson purchased a new stake in shares of Chevron during the 2nd quarter valued at approximately $200,000. Finally, Mosaic Financial Partners Inc. purchased a new stake in shares of Chevron during the 2nd quarter valued at approximately $200,000. 64.72% of the stock is owned by hedge funds and other institutional investors.
In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total value of $569,857.50. Following the sale, the insider now directly owns 4,750 shares in the company, valued at approximately $569,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
Chevron (NYSE:CVX) last posted its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The business had revenue of $43.99 billion for the quarter, compared to analysts’ expectations of $47.17 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 8.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.83%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio is presently 121.08%.
CVX has been the topic of a number of recent research reports. Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price target on shares of Chevron and gave the company a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Monday, October 1st. Piper Jaffray Companies restated an “overweight” rating on shares of Chevron in a research note on Tuesday, October 23rd. Finally, Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus target price of $138.13.
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Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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