British Airways Pensions Investment Management Ltd maintained its stake in Chevron Corporation (NYSE:CVX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 507,995 shares of the oil and gas company’s stock at the end of the second quarter. Chevron Corporation accounts for approximately 1.5% of British Airways Pensions Investment Management Ltd’s holdings, making the stock its 15th largest position. British Airways Pensions Investment Management Ltd’s holdings in Chevron Corporation were worth $52,969,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after acquiring an additional 1,261,078 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Chevron Corporation by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock worth $614,268,000 after acquiring an additional 54,154 shares in the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Chevron Corporation by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Chevron Corporation by 4.0% in the second quarter. Fisher Asset Management LLC now owns 3,799,120 shares of the oil and gas company’s stock worth $396,362,000 after acquiring an additional 147,750 shares in the last quarter. Finally, Thomaspartners Inc. lifted its stake in shares of Chevron Corporation by 30.5% in the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock worth $302,271,000 after acquiring an additional 657,826 shares in the last quarter. Institutional investors own 62.90% of the company’s stock.
In related news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
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Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio is currently 125.95%.
Several research analysts recently commented on CVX shares. TheStreet upgraded Chevron Corporation from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. BMO Capital Markets set a $120.00 price objective on Chevron Corporation and gave the company a “buy” rating in a report on Sunday, July 30th. Citigroup Inc. lowered their price objective on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a report on Friday, July 21st. Scotiabank set a $115.00 price objective on Chevron Corporation and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $120.45.
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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