Legal & General Group Plc increased its position in shares of Chevron Corporation (NYSE:CVX) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,179,488 shares of the oil and gas company’s stock after acquiring an additional 185,215 shares during the period. Chevron Corporation makes up about 0.9% of Legal & General Group Plc’s investment portfolio, making the stock its 17th largest position. Legal & General Group Plc owned approximately 0.54% of Chevron Corporation worth $1,062,050,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new position in Chevron Corporation in the 2nd quarter worth about $106,000. Thompson Davis & CO. Inc. increased its stake in Chevron Corporation by 20.0% in the 1st 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 in the last quarter. Winfield Associates Inc. increased its stake in Chevron Corporation by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. increased its stake in Chevron Corporation by 438.5% in the 2nd 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 in the last quarter. Finally, New Capital Management LP increased its stake in Chevron Corporation by 0.3% in the 1st 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 in the last quarter. 63.03% of the stock is currently owned by hedge funds and other institutional investors.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 13,143 shares of Chevron Corporation stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the transaction, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 41,000 shares of company stock worth $5,420 and sold 63,122 shares worth $7,433,361. Insiders own 0.38% of the company’s stock.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. research analysts predict that Chevron Corporation will post 4.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio is currently 125.95%.
A number of equities analysts recently weighed in on CVX shares. TheStreet raised Chevron Corporation from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Jefferies Group LLC set a $130.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Credit Suisse Group set a $123.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, BMO Capital Markets set a $120.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $120.54.
Chevron Corporation 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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