Nicholas Company Inc. continued to hold its stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,470 shares of the oil and gas company’s stock at the end of the 2nd quarter. Nicholas Company Inc.’s holdings in Chevron were worth $1,300,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of CVX. BlackRock Inc. raised its position in shares of Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in shares of Chevron by 2.2% in the second quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 7,803 shares of the oil and gas company’s stock valued at $814,000 after buying an additional 170 shares in the last quarter. KCM Investment Advisors LLC raised its position in shares of Chevron by 0.4% in the second quarter. KCM Investment Advisors LLC now owns 259,691 shares of the oil and gas company’s stock valued at $27,094,000 after buying an additional 1,030 shares in the last quarter. Comerica Securities Inc. raised its position in shares of Chevron by 4.3% in the second quarter. Comerica Securities Inc. now owns 32,308 shares of the oil and gas company’s stock valued at $3,371,000 after buying an additional 1,339 shares in the last quarter. Finally, Courier Capital LLC raised its position in shares of Chevron by 2.1% in the second quarter. Courier Capital LLC now owns 25,975 shares of the oil and gas company’s stock valued at $2,710,000 after buying an additional 523 shares in the last quarter. Institutional investors own 63.93% of the company’s stock.
A number of equities research analysts have recently weighed in on CVX shares. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Jefferies Group set a $130.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Friday, August 25th. Credit Suisse Group set a $123.00 price objective on shares of Chevron and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Goldman Sachs Group restated a “buy” rating and set a $123.00 price objective (up from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $121.22.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. research analysts predict that Chevron Corporation will post 4.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.61%. Chevron’s dividend payout ratio (DPR) is presently 125.95%.
In other news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the transaction, the insider now owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock valued at $36,540,822 over the last quarter. Company insiders own 0.38% of the company’s stock.
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Chevron 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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