Westpac Banking Corp Has $13.17 Million Stake in Chevron Corporation (CVX)
Westpac Banking Corp reduced its stake in Chevron Corporation (NYSE:CVX) by 41.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,211 shares of the oil and gas company’s stock after selling 89,208 shares during the period. Westpac Banking Corp’s holdings in Chevron were worth $13,168,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CVX. Everett Harris & Co. CA grew its position in Chevron by 0.4% during the 1st quarter. Everett Harris & Co. CA now owns 291,943 shares of the oil and gas company’s stock worth $31,346,000 after acquiring an additional 1,142 shares during the last quarter. Paragon Capital Management Ltd bought a new stake in Chevron during the 1st quarter worth approximately $1,459,000. Nikko Asset Management Americas Inc. grew its position in Chevron by 7.9% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 239,730 shares of the oil and gas company’s stock worth $25,740,000 after acquiring an additional 17,600 shares during the last quarter. BTC Capital Management Inc. grew its position in Chevron by 0.6% during the 1st quarter. BTC Capital Management Inc. now owns 89,852 shares of the oil and gas company’s stock worth $9,647,000 after acquiring an additional 574 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its position in Chevron by 15.6% during the 1st quarter. Hennessy Advisors Inc. now owns 106,975 shares of the oil and gas company’s stock worth $11,486,000 after acquiring an additional 14,425 shares during the last quarter. Institutional investors own 63.93% of the company’s stock.
Chevron Corporation (CVX) opened at $120.36 on Wednesday. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $122.30. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $229,520.33, a PE ratio of 33.85, a PEG ratio of 3.94 and a beta of 1.21.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. sell-side analysts expect that Chevron Corporation will post 4.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.59%. Chevron’s dividend payout ratio (DPR) is presently 125.95%.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares in the company, valued at $145,022. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock valued at $36,540,822 over the last 90 days. Company insiders own 0.38% of the company’s stock.
A number of equities research analysts recently commented on the company. UBS set a $120.00 price target on Chevron and gave the stock a “neutral” rating in a research report on Monday. Bank of America set a $125.00 price target on Chevron and gave the stock a “buy” rating in a research report on Saturday. Wells Fargo & Company restated a “market perform” rating and set a $108.00 price target (up from $100.00) on shares of Chevron in a research report on Tuesday, October 3rd. Jefferies Group reiterated a “buy” rating and issued a $137.00 price objective on shares of Chevron in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $121.22.
Chevron 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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