Grandfield & Dodd LLC lowered its position in shares of Chevron Corp. (NYSE:CVX) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,990 shares of the company’s stock after selling 1,348 shares during the period. Grandfield & Dodd LLC’s holdings in Chevron Corp. were worth $9,674,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Capital Research Global Investors raised its stake in shares of Chevron Corp. by 272.6% in the second quarter. Capital Research Global Investors now owns 14,239,856 shares of the company’s stock worth $1,492,764,000 after buying an additional 10,417,906 shares during the period. Jarislowsky Fraser Ltd raised its stake in Chevron Corp. by 411.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,793,376 shares of the company’s stock valued at $221,830,000 after buying an additional 3,051,817 shares during the last quarter. Vanguard Group Inc. raised its stake in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock valued at $13,087,581,000 after buying an additional 2,824,724 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Chevron Corp. during the second quarter valued at approximately $227,457,000. Finally, BlackRock Fund Advisors raised its stake in Chevron Corp. by 6.5% in the second quarter. BlackRock Fund Advisors now owns 32,652,251 shares of the company’s stock valued at $3,422,935,000 after buying an additional 1,983,103 shares during the last quarter. 62.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Corp. (NYSE:CVX) remained flat at $111.00 during trading on Friday. 3,238,554 shares of the company were exchanged. Chevron Corp. has a one year low of $75.33 and a one year high of $111.47. The firm’s market cap is $209.54 billion. The stock’s 50-day moving average is $105.01 and its 200-day moving average is $102.70.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.29. The company earned $30.14 billion during the quarter, compared to analysts’ expectations of $29.71 billion. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, analysts expect that Chevron Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.89%. This is a boost from Chevron Corp.’s previous quarterly dividend of $1.07. Chevron Corp.’s payout ratio is presently -540.00%.
Several equities research analysts have commented on CVX shares. Zacks Investment Research lowered shares of Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their price target for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Simmons raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their price target for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Finally, Vetr raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 price target on the stock in a report on Tuesday, August 9th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $108.61.
In other Chevron Corp. news, Director Linnet F. Deily sold 5,637 shares of Chevron Corp. stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of Chevron Corp. stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the transaction, the insider now owns 28,911 shares of the company’s stock, valued at approximately $3,180,210. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
About Chevron Corp.