Camden Capital LLC reduced its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 35.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,287 shares of the oil and gas company’s stock after selling 6,252 shares during the period. Camden Capital LLC’s holdings in Chevron were worth $1,838,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the business. S. R. Schill & Associates increased its position in Chevron by 8.0% in the 1st quarter. S. R. Schill & Associates now owns 6,054 shares of the oil and gas company’s stock worth $986,000 after buying an additional 449 shares during the period. First Interstate Bank grew its holdings in shares of Chevron by 53.1% during the 1st quarter. First Interstate Bank now owns 6,422 shares of the oil and gas company’s stock worth $1,046,000 after purchasing an additional 2,226 shares in the last quarter. Richard C. Young & CO. LTD. grew its holdings in shares of Chevron by 0.8% during the 1st quarter. Richard C. Young & CO. LTD. now owns 87,967 shares of the oil and gas company’s stock worth $14,324,000 after purchasing an additional 678 shares in the last quarter. Integrity Financial Corp WA acquired a new stake in shares of Chevron during the 1st quarter worth approximately $202,000. Finally, Washburn Capital Management Inc. grew its holdings in shares of Chevron by 206.2% during the 1st quarter. Washburn Capital Management Inc. now owns 6,660 shares of the oil and gas company’s stock worth $1,084,000 after purchasing an additional 4,485 shares in the last quarter. 65.89% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on CVX. Citigroup decreased their price objective on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Raymond James lifted their price objective on Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a report on Monday, April 18th. Barclays lifted their price objective on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. Bank of America lifted their price objective on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Finally, Credit Suisse Group boosted their price target on Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.
Chevron Trading Up 1.7 %
Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm’s quarterly revenue was up 82.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.71 earnings per share. Analysts predict that Chevron Co. will post 17.51 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. Chevron’s payout ratio is currently 37.89%.
Insider Transactions at Chevron
In other news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the sale, the executive vice president now owns 788 shares of the company’s stock, valued at approximately $125,662.36. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock worth $67,010,843 over the last 90 days. 0.32% of the stock is owned by insiders.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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