TD Asset Management Inc. grew its position in Chevron Co. (NYSE:CVX) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,993,109 shares of the oil and gas company’s stock after purchasing an additional 51,804 shares during the period. TD Asset Management Inc. owned about 0.10% of Chevron worth $248,022,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Guidant Wealth Advisors lifted its position in Chevron by 63.9% during the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after buying an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in Chevron during the 2nd quarter worth about $34,000. Cordasco Financial Network raised its holdings in Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in Chevron during the 2nd quarter worth about $54,000. Finally, Thor Advisors LLC bought a new stake in Chevron during the 1st quarter worth about $67,000. Institutional investors own 65.90% of the company’s stock.
In related news, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. Following the completion of the sale, the insider now directly owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Debra L. Reed bought 4,250 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $118.14 per share, with a total value of $502,095.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 53,850 shares of company stock valued at $6,704,375. 0.31% of the stock is currently owned by company insiders.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The company had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. Chevron’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. Sell-side analysts anticipate that Chevron Co. will post 6.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.11%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.
Several analysts have weighed in on CVX shares. Morgan Stanley dropped their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Citigroup started coverage on Chevron in a report on Monday, May 13th. They set a “buy” rating and a $135.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and a consensus target price of $135.41.
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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