Webster Bank N. A. trimmed its position in Chevron Co. (NYSE:CVX) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,554 shares of the oil and gas company’s stock after selling 384 shares during the period. Webster Bank N. A.’s holdings in Chevron were worth $4,929,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Guidant Wealth Advisors raised its holdings in shares of Chevron by 63.9% in the second 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 during the last quarter. Evolution Wealth Advisors LLC purchased a new position in shares of Chevron in the second quarter worth $34,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Chevron in the second quarter worth $46,000. Cordasco Financial Network raised its holdings in shares of Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after buying an additional 135 shares during the last quarter. Finally, CKW Financial Group raised its holdings in shares of Chevron by 154.0% in the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after buying an additional 251 shares during the last quarter. Institutional investors own 65.61% of the company’s stock.
CVX has been the subject of a number of research analyst reports. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday. Independent Research set a $127.00 price target on shares of Chevron and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays initiated coverage on shares of Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 target price for the company. BMO Capital Markets initiated coverage on shares of Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price for the company. Finally, Cowen set a $140.00 target price on shares of Chevron and gave the stock a “buy” rating in a report on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $136.22.
Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same quarter last year, the company posted $1.78 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 6.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.19 per share. The ex-dividend date was Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 4.22%. Chevron’s dividend payout ratio is presently 57.70%.
In related news, CFO Pierre R. Breber sold 15,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $124.97, for a total transaction of $1,874,550.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph C. Geagea sold 5,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $118.10, for a total transaction of $590,500.00. Following the sale, the executive vice president now owns 6,243 shares in the company, valued at approximately $737,298.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,750 shares of company stock worth $10,648,200. 0.31% of the stock is owned by company insiders.
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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