Gilman Hill Asset Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,562 shares of the oil and gas company’s stock after selling 764 shares during the period. Chevron Corporation makes up about 1.7% of Gilman Hill Asset Management LLC’s holdings, making the stock its 22nd biggest position. Gilman Hill Asset Management LLC’s holdings in Chevron Corporation were worth $4,023,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its position in shares of Chevron Corporation by 20.0% during 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 period. Americafirst Capital Management LLC acquired a new stake in shares of Chevron Corporation during the first quarter worth $140,000. Daiwa SB Investments Ltd. raised its position in shares of Chevron Corporation by 438.5% during 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 period. New Capital Management LP raised its position in shares of Chevron Corporation by 0.3% during 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 period. Finally, Marshall & Sullivan Inc. WA raised its position in shares of Chevron Corporation by 8.8% during the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 160 shares during the period. 62.74% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $123.00 price target (up previously from $118.00) on shares of Chevron Corporation in a report on Tuesday. Cowen and Company reiterated a “buy” rating and set a $122.00 price target on shares of Chevron Corporation in a report on Tuesday. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Chevron Corporation in a report on Saturday. Scotiabank reiterated a “buy” rating on shares of Chevron Corporation in a report on Friday, September 15th. Finally, UBS AG set a $105.00 price target on Chevron Corporation and gave the company a “neutral” rating in a report on Wednesday, September 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Chevron Corporation has an average rating of “Buy” and a consensus target price of $116.88.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The transaction was disclosed in a filing 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 72,312 shares of company stock valued at $8,008,343 in the last 90 days. 0.38% of the stock is owned by corporate insiders.
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Chevron Corporation (NYSE CVX) traded up 0.39% during mid-day trading on Wednesday, hitting $116.79. The stock had a trading volume of 2,338,068 shares. The company has a market capitalization of $221.32 billion, a P/E ratio of 37.87 and a beta of 1.23. Chevron Corporation has a 52 week low of $97.79 and a 52 week high of $119.00. The stock’s 50-day moving average is $109.87 and its 200 day moving average is $107.14.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.78) EPS. Equities analysts forecast that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.
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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