Amalgamated Bank increased its holdings in Chevron Co. (NYSE:CVX) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,270 shares of the oil and gas company’s stock after purchasing an additional 9,683 shares during the period. Chevron makes up 0.7% of Amalgamated Bank’s portfolio, making the stock its 18th biggest position. Amalgamated Bank’s holdings in Chevron were worth $29,113,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CVX. Stellar Capital Management LLC increased its holdings in shares of Chevron by 1.9% during the first quarter. Stellar Capital Management LLC now owns 21,011 shares of the oil and gas company’s stock worth $2,397,000 after buying an additional 401 shares in the last quarter. South Street Advisors LLC increased its holdings in shares of Chevron by 5.1% during the first quarter. South Street Advisors LLC now owns 8,490 shares of the oil and gas company’s stock worth $968,000 after buying an additional 410 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in shares of Chevron by 25.4% during the first quarter. Chase Investment Counsel Corp now owns 2,074 shares of the oil and gas company’s stock worth $236,000 after buying an additional 420 shares in the last quarter. Concentric Wealth Management LLC grew its stake in shares of Chevron by 1.9% during the first quarter. Concentric Wealth Management LLC now owns 23,656 shares of the oil and gas company’s stock valued at $2,698,000 after purchasing an additional 432 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of Chevron by 0.9% during the first quarter. Cornercap Investment Counsel Inc. now owns 49,002 shares of the oil and gas company’s stock valued at $5,588,000 after purchasing an additional 440 shares during the last quarter. 65.02% of the stock is owned by hedge funds and other institutional investors.
Shares of CVX stock opened at $116.30 on Friday. Chevron Co. has a 52-week low of $108.02 and a 52-week high of $133.88. The company has a market capitalization of $220.40 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.06. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The business had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Chevron’s revenue was up 22.5% compared to the same quarter last year. equities analysts anticipate that Chevron Co. will post 8.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were paid a $1.12 dividend. The ex-dividend date was Thursday, August 16th. This represents a $4.48 dividend on an annualized basis and a yield of 3.85%. Chevron’s payout ratio is presently 121.08%.
Several research firms have recently commented on CVX. Mizuho began coverage on shares of Chevron in a research note on Friday, June 8th. They set a “buy” rating and a $145.00 price target on the stock. Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and decreased their price target for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Barclays increased their price target on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Macquarie cut shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Tuesday, July 3rd. Finally, Credit Suisse Group set a $132.00 price target on shares of Chevron and gave the company a “hold” rating in a research note on Sunday, July 1st. Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Chevron presently has an average rating of “Buy” and an average price target of $138.17.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $124.20, for a total value of $589,950.00. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at $589,950. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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