M Holdings Securities Inc. cut its position in Chevron Corporation (NYSE:CVX) by 76.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,502 shares of the oil and gas company’s stock after selling 46,481 shares during the period. M Holdings Securities Inc.’s holdings in Chevron Corporation were worth $1,557,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. 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 buying an additional 4 shares in the last quarter. Haverford Financial Services Inc. boosted its position in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after buying an additional 16 shares during the period. Orgel Wealth Management LLC boosted its position in shares of Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after buying an additional 18 shares during the period. Westbourne Investment Advisors Inc. boosted its position in shares of Chevron Corporation by 0.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock worth $798,000 after buying an additional 33 shares during the period. Finally, Court Place Advisors LLC boosted its position in shares of Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock worth $641,000 after buying an additional 36 shares during the period. 62.75% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron Corporation (NYSE CVX) traded up 0.35% during midday trading on Tuesday, hitting $106.15. The stock had a trading volume of 1,119,760 shares. The firm has a 50-day moving average price of $106.48 and a 200-day moving average price of $107.37. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00. The firm has a market cap of $201.15 billion, a price-to-earnings ratio of 34.42 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.78) earnings per share. On average, equities analysts anticipate that Chevron Corporation will post $3.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.08%. Chevron Corporation’s payout ratio is presently 140.26%.
A number of equities analysts recently commented on the company. Citigroup Inc. lowered their target price on 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 price objective on Chevron Corporation and gave the company a “buy” rating in a research note on Sunday, July 30th. Exane BNP Paribas cut Chevron Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $105.00 to $100.00 in a research note on Friday, May 26th. BidaskClub upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, TheStreet cut Chevron Corporation from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron Corporation currently has a consensus rating of “Buy” and a consensus price target of $116.80.
In other news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock worth $8,008,343 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.
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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