Cadence Bank NA increased its position in shares of Chevron Corp. (NYSE:CVX) by 11.9% during the second quarter, Holdings Channel reports. The institutional investor owned 36,165 shares of the company’s stock after buying an additional 3,846 shares during the period. Chevron Corp. accounts for about 1.9% of Cadence Bank NA’s holdings, making the stock its 9th largest position. Cadence Bank NA’s holdings in Chevron Corp. were worth $3,792,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CVX. Weatherly Asset Management L. P. raised its position in Chevron Corp. by 37.5% in the second quarter. Weatherly Asset Management L. P. now owns 31,444 shares of the company’s stock worth $2,002,000 after buying an additional 8,576 shares during the last quarter. Linscomb & Williams Inc. raised its position in Chevron Corp. by 8.4% in the second quarter. Linscomb & Williams Inc. now owns 46,829 shares of the company’s stock worth $4,909,000 after buying an additional 3,625 shares during the last quarter. Janney Capital Management LLC raised its position in Chevron Corp. by 12.7% in the second quarter. Janney Capital Management LLC now owns 328,244 shares of the company’s stock worth $34,409,000 after buying an additional 36,921 shares during the last quarter. Brown Advisory Securities LLC raised its position in Chevron Corp. by 6.3% in the second quarter. Brown Advisory Securities LLC now owns 18,989 shares of the company’s stock worth $1,984,000 after buying an additional 1,125 shares during the last quarter. Finally, Harfst & Associates Inc. raised its position in Chevron Corp. by 385.1% in the second quarter. Harfst & Associates Inc. now owns 13,982 shares of the company’s stock worth $1,465,000 after buying an additional 11,100 shares during the last quarter. Institutional investors and hedge funds own 62.25% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded up 0.16% during trading on Monday, reaching $101.24. The company’s stock had a trading volume of 818,236 shares. The company’s 50 day moving average price is $101.00 and its 200-day moving average price is $101.27. The stock’s market cap is $190.99 billion. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The business earned $29.28 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. Equities analysts forecast that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on CVX shares. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Chevron Corp. in a report on Tuesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $116.00 price target (up previously from $114.00) on shares of Chevron Corp. in a research note on Wednesday, July 6th. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research note on Thursday, July 28th. BMO Capital Markets assumed coverage on Chevron Corp. in a research note on Monday, September 12th. They issued an “outperform” rating and a $120.00 price target on the stock. Finally, Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $117.00 in a research note on Tuesday, August 9th. Thirteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Chevron Corp. presently has an average rating of “Buy” and a consensus target price of $105.89.
In other news, Director Inge G. Thulin acquired 487 shares of Chevron Corp. stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average price of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael K. Wirth sold 125,000 shares of Chevron Corp. stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $100.47, for a total value of $12,558,750.00. Following the transaction, the insider now directly owns 4,222 shares in the company, valued at $424,184.34. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
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.