Sentinel Trust Co. LBA trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 19.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,510 shares of the oil and gas company’s stock after selling 3,605 shares during the quarter. Sentinel Trust Co. LBA’s holdings in Chevron were worth $1,835,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Live Your Vision LLC lifted its holdings in shares of Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after buying an additional 616 shares in the last quarter. Point72 Asia Hong Kong Ltd lifted its holdings in shares of Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after buying an additional 1,243 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its holdings in shares of Chevron by 45.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after buying an additional 462 shares in the last quarter. First National Bank of Hutchinson acquired a new stake in shares of Chevron during the second quarter worth $200,000. Finally, Mosaic Financial Partners Inc. acquired a new stake in shares of Chevron during the second quarter worth $200,000. 64.67% of the stock is owned by hedge funds and other institutional investors.
CVX stock opened at $115.49 on Friday. The stock has a market capitalization of $221.48 billion, a P/E ratio of 31.21, a P/E/G ratio of 2.00 and a beta of 1.13. Chevron Co. has a 52 week low of $107.54 and a 52 week high of $133.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.05. The business had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a return on equity of 8.19% and a net margin of 8.79%. Chevron’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 8.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Co dropped their target price on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Bank of America reissued a “neutral” rating and set a $140.00 target price (up previously from $135.00) on shares of Chevron in a report on Monday, November 5th. Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price for the company in a report on Monday, November 5th. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a report on Tuesday, October 23rd. Finally, Redburn Partners downgraded Chevron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $130.00 to $115.00 in a research note on Wednesday, October 3rd. Seven 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 company’s stock. Chevron has a consensus rating of “Buy” and an average price target of $139.13.
In related news, EVP James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $120.92, for a total value of $574,370.00. Following the completion of the transaction, the executive vice president now owns 4,750 shares of the company’s stock, valued at $574,370. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 23,750 shares of company stock valued at $2,821,833. 0.38% of the stock is owned by insiders.
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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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