Tokio Marine Asset Management Co. Ltd. lowered its stake in Chevron Corporation (NYSE:CVX) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,180 shares of the company’s stock after selling 5,975 shares during the period. Chevron Corporation accounts for approximately 1.0% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 28th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Chevron Corporation were worth $8,767,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Davis & CO. Inc. increased its stake in shares of Chevron Corporation by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock valued at $100,000 after buying an additional 729 shares in the last quarter. Solaris Asset Management LLC increased its stake in shares of Chevron Corporation by 42.6% in the third quarter. Solaris Asset Management LLC now owns 1,005 shares of the company’s stock valued at $103,000 after buying an additional 300 shares in the last quarter. Winfield Associates Inc. increased its stake in shares of Chevron Corporation by 1.5% in the third quarter. Winfield Associates Inc. now owns 1,151 shares of the company’s stock valued at $118,000 after buying an additional 17 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Chevron Corporation by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock valued at $121,000 after buying an additional 621 shares in the last quarter. Finally, Camarda Financial Advisors LLC purchased a new stake in shares of Chevron Corporation during the second quarter valued at approximately $122,000. 61.06% of the stock is owned by institutional investors and hedge funds.
Chevron Corporation (NYSE:CVX) traded up 0.84% on Wednesday, hitting $115.93. 1,831,718 shares of the stock traded hands. The company’s 50 day moving average price is $115.47 and its 200-day moving average price is $105.89. The stock’s market cap is $218.85 billion. Chevron Corporation has a 52-week low of $75.33 and a 52-week high of $119.00.
Chevron Corporation (NYSE:CVX) last issued its earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.29. Chevron Corporation had a negative net margin of 1.34% and a positive return on equity of 0.59%. The company had revenue of $30.14 billion for the quarter, compared to analysts’ expectations of $29.71 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post $1.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 18th were issued a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.76%. This is a boost from Chevron Corporation’s previous quarterly dividend of $1.07. Chevron Corporation’s dividend payout ratio (DPR) is currently -540.00%.
CVX has been the subject of several research reports. Zacks Investment Research upgraded Chevron Corporation from a “hold” rating to a “strong-buy” rating and set a $118.00 target price for the company in a research note on Monday, October 3rd. Vetr upgraded Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $119.79 target price for the company in a research note on Wednesday, September 28th. TheStreet upgraded Chevron Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, December 21st. Exane BNP Paribas assumed coverage on Chevron Corporation in a research note on Monday, October 10th. They issued a “neutral” rating and a $102.00 target price for the company. Finally, Morgan Stanley upgraded Chevron Corporation from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $113.00 to $130.00 in a research note on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Chevron Corporation presently has a consensus rating of “Buy” and a consensus price target of $110.73.
In other news, insider Pierre R. Breber sold 10,000 shares of Chevron Corporation stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the transaction, the insider now owns 28,911 shares in the company, valued at approximately $3,180,210. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linnet F. Deily sold 5,637 shares of Chevron Corporation stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total transaction of $593,406.99. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
Chevron Corporation Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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