Independent Portfolio Consultants Inc. boosted its stake in Chevron Corp. (NYSE:CVX) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,346 shares of the company’s stock after buying an additional 540 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Chevron Corp. were worth $1,785,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of CVX. Diker Management LLC bought a new stake in shares of Chevron Corp. during the first quarter worth $206,000. AMP Capital Investors Ltd raised its stake in shares of Chevron Corp. by 1.1% in the first quarter. AMP Capital Investors Ltd now owns 614,880 shares of the company’s stock worth $58,567,000 after buying an additional 6,437 shares in the last quarter. TPH Asset Management LLC bought a new stake in shares of Chevron Corp. during the first quarter worth $18,517,000. Peregrine Asset Advisers Inc. raised its stake in shares of Chevron Corp. by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 4,385 shares of the company’s stock worth $418,000 after buying an additional 51 shares in the last quarter. Finally, Thomaspartners Inc. raised its stake in shares of Chevron Corp. by 5.8% in the first quarter. Thomaspartners Inc. now owns 1,653,697 shares of the company’s stock worth $157,763,000 after buying an additional 90,811 shares in the last quarter. 61.22% of the stock is owned by institutional investors.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.45% during mid-day trading on Monday, hitting $110.50. 6,406,714 shares of the company traded hands. Chevron Corp. has a one year low of $75.33 and a one year high of $111.57. The stock’s market capitalization is $208.60 billion. The firm has a 50-day moving average of $105.24 and a 200-day moving average of $102.78.
Chevron Corp. (NYSE:CVX) last issued its earnings results 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 had revenue of $30.14 billion for the quarter, compared to analyst estimates of $29.71 billion. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. Chevron Corp.’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, equities analysts predict that Chevron Corp. will post $1.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 annualized dividend and a yield of 3.88%. Chevron Corp.’s dividend payout ratio is currently -540.00%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Vetr cut shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $110.71 price objective on the stock. in a research note on Tuesday, November 8th. Jefferies Group reaffirmed a “buy” rating and issued a $120.00 price objective (up from $116.00) on shares of Chevron Corp. in a research note on Tuesday, November 1st. Morgan Stanley raised shares of Chevron Corp. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $113.00 to $130.00 in a research note on Tuesday, November 1st. Finally, Goldman Sachs Group Inc. raised shares of Chevron Corp. from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Monday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $108.61.
In related news, insider Pierre R. Breber sold 10,000 shares of the 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 transaction, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Linnet F. Deily sold 5,637 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total transaction of $593,406.99. The disclosure for this sale can be found here. Corporate 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.