Investment Counsel Inc. raised its position in Chevron Corporation (NYSE:CVX) by 6.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,780 shares of the oil and gas company’s stock after buying an additional 1,025 shares during the period. Chevron Corporation comprises 1.5% of Investment Counsel Inc.’s investment portfolio, making the stock its 27th biggest position. Investment Counsel Inc.’s holdings in Chevron Corporation were worth $1,855,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Reliance Trust Co. of Delaware increased its holdings in Chevron Corporation by 2.3% in the first quarter. Reliance Trust Co. of Delaware now owns 53,834 shares of the oil and gas company’s stock valued at $5,780,000 after buying an additional 1,229 shares in the last quarter. Harvey Investment Co. LLC increased its holdings in Chevron Corporation by 0.9% in the first quarter. Harvey Investment Co. LLC now owns 17,144 shares of the oil and gas company’s stock valued at $1,841,000 after buying an additional 148 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Chevron Corporation by 1.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 78,974 shares of the oil and gas company’s stock valued at $8,479,000 after buying an additional 1,493 shares in the last quarter. Vicus Capital increased its holdings in Chevron Corporation by 6.7% in the first quarter. Vicus Capital now owns 7,158 shares of the oil and gas company’s stock valued at $769,000 after buying an additional 451 shares in the last quarter. Finally, Cohen Capital Management Inc. increased its holdings in Chevron Corporation by 2.3% in the first quarter. Cohen Capital Management Inc. now owns 44,902 shares of the oil and gas company’s stock valued at $4,821,000 after buying an additional 1,000 shares in the last quarter. 62.72% of the stock is owned by institutional investors.
Chevron Corporation (NYSE CVX) opened at 119.16 on Monday. Chevron Corporation has a 12-month low of $99.87 and a 12-month high of $120.00. The firm has a market capitalization of $225.81 billion, a price-to-earnings ratio of 38.64 and a beta of 1.24. The firm has a 50-day moving average of $114.83 and a 200 day moving average of $108.32.
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, topping the Thomson Reuters’ 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 company had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same period last year, the company earned ($0.78) EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post $3.99 EPS for the current year.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’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 value of $4,329,000.00. Following the sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the sale, the insider now directly owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. Insiders have sold a total of 72,312 shares of company stock worth $8,008,343 over the last ninety days. 0.38% of the stock is owned by corporate insiders.
CVX has been the subject of a number of recent analyst reports. Macquarie cut shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective for the company. in a report on Wednesday, June 21st. BMO Capital Markets set a $130.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a report on Thursday, June 22nd. BidaskClub cut shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Jefferies Group LLC set a $135.00 target price on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Saturday, June 24th. Finally, Scotiabank reissued a “buy” rating and set a $113.00 target price on shares of Chevron Corporation in a research note on Friday, June 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Chevron Corporation currently has an average rating of “Buy” and an average target price of $117.07.
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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