Trade Report: Today, North Star Asset Management Inc. reduces its investment in Chevron Corp. (CVX)

Today, North Star Asset Management Inc. reduces its investment in Chevron Corp. (CVX)

North Star Asset Management Inc. reduced its stake in Chevron Corp. (NYSE:CVX) by 7.1% during the third quarter, Holdings Channel reports. The firm owned 10,452 shares of the company’s stock after selling 800 shares during the period. North Star Asset Management Inc.’s holdings in Chevron Corp. were worth $1,076,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. LifePlan Financial Group Inc bought a new stake in shares of Chevron Corp. during the third quarter valued at $203,000. Indiana Trust & Investment Management CO boosted its stake in shares of Chevron Corp. by 5.4% in the third quarter. Indiana Trust & Investment Management CO now owns 13,995 shares of the company’s stock valued at $1,440,000 after buying an additional 715 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of Chevron Corp. by 0.9% in the third quarter. Burns J W & Co. Inc. NY now owns 62,005 shares of the company’s stock valued at $6,382,000 after buying an additional 548 shares during the last quarter. Curbstone Financial Management Corp boosted its stake in shares of Chevron Corp. by 6.4% in the third quarter. Curbstone Financial Management Corp now owns 14,702 shares of the company’s stock valued at $1,513,000 after buying an additional 888 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Chevron Corp. by 5.7% in the third quarter. Fulton Bank N.A. now owns 40,053 shares of the company’s stock valued at $4,123,000 after buying an additional 2,176 shares during the last quarter. 62.30% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Corp. (NYSE:CVX) remained flat at $111.00 during midday trading on Friday. The stock had a trading volume of 3,238,554 shares. The firm’s 50 day moving average price is $105.01 and its 200 day moving average price is $102.70. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $111.47. The company’s market cap is $209.54 billion.

Chevron Corp. (NYSE:CVX) last released its quarterly earnings data on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.29. The business 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 company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. On average, equities analysts anticipate that Chevron Corp. will post $1.34 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be given a dividend of $1.08 per share. This is a boost from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Wednesday, November 16th. Chevron Corp.’s payout ratio is -540.00%.

CVX has been the subject of several recent analyst reports. Goldman Sachs Group Inc. upgraded Chevron Corp. from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Monday, October 31st. Vetr lowered Chevron Corp. from a “buy” rating to a “hold” rating and set a $110.71 target price for the company. in a research report on Tuesday, November 8th. Morgan Stanley upgraded Chevron Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $113.00 to $130.00 in a research report on Tuesday, November 1st. Barclays PLC restated an “equal weight” rating and set a $125.00 target price on shares of Chevron Corp. in a research report on Monday, October 10th. Finally, Zacks Investment Research upgraded Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 target price for the company in a research report on Monday, October 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $108.61.

In related news, Director Linnet F. Deily sold 5,637 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total value of $593,406.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 10,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Chevron Corp. 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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