Everett Harris & Co. CA lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 477,084 shares of the oil and gas company’s stock after selling 9,895 shares during the quarter. Chevron makes up approximately 0.9% of Everett Harris & Co. CA’s portfolio, making the stock its 28th largest holding. Everett Harris & Co. CA’s holdings in Chevron were worth $42,570,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new stake in shares of Chevron in the second quarter worth $25,000. Corbenic Partners LLC increased its position in Chevron by 276.0% during the first quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock worth $26,000 after buying an additional 265 shares during the last quarter. PARK CIRCLE Co bought a new stake in Chevron in the first quarter valued at approximately $36,000. Marshall & Sullivan Inc. WA bought a new position in shares of Chevron during the 2nd quarter worth approximately $36,000. Finally, Asset Advisors Investment Management LLC acquired a new stake in Chevron during the 2nd quarter valued at $36,000. Institutional investors own 64.60% of the company’s stock.
Several research analysts have weighed in on CVX shares. UBS Group cut shares of Chevron from a “buy” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Tuesday, May 12th. Mizuho dropped their price target on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. SunTrust Banks began coverage on Chevron in a report on Thursday, July 23rd. They issued a “buy” rating and a $120.00 price objective on the stock. Royal Bank of Canada downgraded Chevron from a “sector perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Wednesday, June 10th. Finally, Morgan Stanley upped their price target on shares of Chevron from $103.00 to $107.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $111.25.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). The firm had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $21.71 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The company’s revenue was down 64.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 EPS. As a group, analysts expect that Chevron Co. will post 0.8 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Tuesday, August 18th. Chevron’s dividend payout ratio (DPR) is currently 82.30%.
Chevron Company Profile
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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