Guinness Asset Management Ltd continued to hold its stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,800 shares of the oil and gas company’s stock at the end of the 2nd quarter. Chevron Corporation accounts for 2.4% of Guinness Asset Management Ltd’s portfolio, making the stock its 21st biggest position. Guinness Asset Management Ltd’s holdings in Chevron Corporation were worth $11,455,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in CVX. Thompson Davis & CO. Inc. lifted 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 valued at $123,000 after purchasing an additional 191 shares during the period. Americafirst Capital Management LLC acquired a new stake in Chevron Corporation in the first quarter valued at about $140,000. New Capital Management LP lifted 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 valued at $156,000 after purchasing an additional 4 shares during the period. Marshall & Sullivan Inc. WA lifted its position in Chevron Corporation by 8.8% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 160 shares during the period. Finally, Merriman Wealth Management LLC acquired a new stake in Chevron Corporation in the first quarter valued at about $224,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.
A number of brokerages recently commented on CVX. Credit Suisse Group set a $123.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Citigroup Inc. dropped their target price on shares of Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a report on Friday, July 21st. BMO Capital Markets set a $120.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a report on Sunday, July 30th. Exane BNP Paribas cut shares of Chevron Corporation from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $105.00 to $100.00 in a report on Friday, May 26th. Finally, BidaskClub raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $116.88.
Chevron Corporation (CVX) traded up 0.35% during mid-day trading on Wednesday, reaching $116.75. 2,091,453 shares of the company’s stock traded hands. The company has a market capitalization of $221.24 billion, a price-to-earnings ratio of 37.86 and a beta of 1.23. The company has a 50-day moving average of $109.87 and a 200-day moving average of $107.14. Chevron Corporation has a 52-week low of $97.79 and a 52-week high of $119.00.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the previous year, the business earned ($0.78) earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post $3.86 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.71%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
In other news, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were 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 approximately $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 in the last 90 days. 0.38% of the stock is owned by company insiders.
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Chevron Corporation Company 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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