Rockland Trust Co. raised its stake in Chevron Corp. (NYSE:CVX) by 242.5% during the second quarter, Holdings Channel reports. The institutional investor owned 92,881 shares of the company’s stock after buying an additional 65,766 shares during the period. Chevron Corp. makes up about 1.7% of Rockland Trust Co.’s investment portfolio, making the stock its 22nd largest position. Rockland Trust Co.’s holdings in Chevron Corp. were worth $9,737,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Carl Domino Inc increased its position in shares of Chevron Corp. by 11.9% in the first quarter. Carl Domino Inc now owns 6,799 shares of the company’s stock valued at $649,000 after buying an additional 725 shares in the last quarter. Benin Management CORP increased its position in shares of Chevron Corp. by 53.8% in the first quarter. Benin Management CORP now owns 14,014 shares of the company’s stock valued at $1,337,000 after buying an additional 4,900 shares in the last quarter. FirstMerit Bank N A Trustee increased its position in shares of Chevron Corp. by 1.6% in the first quarter. FirstMerit Bank N A Trustee now owns 182,689 shares of the company’s stock valued at $17,428,000 after buying an additional 2,793 shares in the last quarter. Peddock Capital Advisors LLC increased its position in shares of Chevron Corp. by 1.4% in the first quarter. Peddock Capital Advisors LLC now owns 47,454 shares of the company’s stock valued at $4,527,000 after buying an additional 671 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its position in shares of Chevron Corp. by 1.0% in the first quarter. Oliver Luxxe Assets LLC now owns 29,840 shares of the company’s stock valued at $2,847,000 after buying an additional 281 shares in the last quarter. Institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.86% during midday trading on Wednesday, hitting $102.15. The company had a trading volume of 4,935,130 shares. The company’s market capitalization is $192.71 billion. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The firm’s 50 day moving average is $101.05 and its 200 day moving average is $101.22.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The firm had revenue of $29.28 billion for the quarter, compared to the consensus estimate of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The business’s revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Equities research analysts anticipate that Chevron Corp. will post $1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a dividend of $1.07 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a yield of 4.19%. Chevron Corp.’s payout ratio is -1,097.44%.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Tuesday, July 12th. Jefferies Group boosted their price target on Chevron Corp. from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Tuesday, July 12th. Barclays PLC restated an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research note on Monday. Vetr downgraded Chevron Corp. from a “strong-buy” rating to a “buy” rating and set a $112.29 price target for the company. in a research note on Monday. Finally, Exane BNP Paribas began coverage on Chevron Corp. in a research note on Monday. They issued a “neutral” rating and a $102.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $105.09.
In other Chevron Corp. news, insider Michael K. Wirth sold 125,000 shares of Chevron Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the sale, the insider now directly owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Inge G. Thulin acquired 487 shares of the business’s stock in a transaction on Monday, August 15th. The shares were purchased at an average cost of $102.87 per share, for a total transaction of $50,097.69. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
About Chevron Corp.
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.