B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lowered its holdings in Chevron Co. (NYSE:CVX) by 55.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,372 shares of the oil and gas company’s stock after selling 15,549 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Chevron were worth $1,564,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Live Your Vision LLC increased its position in Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 616 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in Chevron by 20,716.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares in the last quarter. Shine Investment Advisory Services Inc. increased its position in Chevron by 45.4% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 462 shares in the last quarter. First National Bank of Hutchinson acquired a new position in Chevron during the 2nd quarter worth approximately $200,000. Finally, Mosaic Financial Partners Inc. acquired a new position in Chevron during the 2nd quarter worth approximately $200,000. 64.67% of the stock is owned by hedge funds and other institutional investors.
In other news, insider James William Johnson sold 4,750 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the sale, the insider now directly owns 4,750 shares in the company, valued at $551,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 23,750 shares of company stock valued at $2,821,833. Corporate insiders own 0.38% of the company’s stock.
Shares of NYSE CVX opened at $115.49 on Friday. 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 Co. has a 52-week low of $107.54 and a 52-week high of $133.88. The company has a market capitalization of $224.02 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The firm had revenue of $43.99 billion during the quarter, compared to analysts’ expectations of $47.17 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was up 21.5% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 8.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is currently 121.08%.
CVX has been the subject of a number of research analyst reports. Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price objective on shares of Chevron and gave the stock a “hold” rating in a research report on Thursday, September 20th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research report on Monday, October 1st. Finally, Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $150.00 to $135.00 in a research report on Thursday, September 6th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $139.13.
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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