BRYN MAWR TRUST Co raised its stake in Chevron Co. (NYSE:CVX) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,687 shares of the oil and gas company’s stock after purchasing an additional 1,511 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Chevron were worth $7,294,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,217,173 shares of the oil and gas company’s stock valued at $1,671,000,000 after acquiring an additional 190,647 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Chevron by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 8,933,341 shares of the oil and gas company’s stock valued at $1,129,443,000 after acquiring an additional 204,547 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Chevron by 0.4% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock worth $869,505,000 after buying an additional 31,022 shares during the period. Standard Life Aberdeen plc increased its stake in Chevron by 78.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock worth $858,547,000 after buying an additional 2,994,612 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Chevron by 10.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,391,206 shares of the oil and gas company’s stock worth $808,040,000 after buying an additional 594,253 shares during the period. Institutional investors own 64.89% of the company’s stock.
Several equities research analysts recently issued reports on CVX shares. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Chevron in a research note on Tuesday, October 23rd. Goldman Sachs Group raised shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Wells Fargo & Co dropped their price target on shares of Chevron from $160.00 to $158.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Finally, Redburn Partners downgraded shares of Chevron from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $130.00 to $115.00 in a research note on Wednesday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $138.13.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $569,857.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.
CVX opened at $118.94 on Monday. The stock has a market capitalization of $227.27 billion, a PE ratio of 32.15, a P/E/G ratio of 2.08 and a beta of 1.12. Chevron Co. has a 1-year low of $107.54 and a 1-year high of $133.88. The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19.
Chevron (NYSE:CVX) last released its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.05. The company had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, equities analysts expect that Chevron Co. will post 8.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, November 15th. Chevron’s payout ratio is currently 121.08%.
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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