Auxier Asset Management Trims Position in Chevron Co. (CVX)
Auxier Asset Management trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,161 shares of the oil and gas company’s stock after selling 965 shares during the period. Auxier Asset Management’s holdings in Chevron were worth $3,074,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CVX. Shine Investment Advisory Services Inc. acquired a new position in Chevron in the 2nd quarter worth approximately $106,000. Winfield Associates Inc. boosted its stake in Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares during the period. Acrospire Investment Management LLC boosted its stake in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares during the period. Accurate Investment Solutions Inc. boosted its stake in Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the period. Finally, Ffcm LLC boosted its stake in Chevron by 121.1% in the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 63.72% of the company’s stock.
A number of equities analysts recently commented on the stock. Royal Bank of Canada raised shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price objective for the company in a research note on Friday. Morgan Stanley raised their price objective on shares of Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective for the company. in a research note on Thursday, January 11th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research note on Friday, November 17th. Finally, TheStreet raised shares of Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $130.30.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. equities analysts expect that Chevron Co. will post 6.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $1.12 per share. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.93%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio (DPR) is currently 89.26%.
In other news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the transaction, the chief financial officer now owns 39,506 shares in the company, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders have sold a total of 264,021 shares of company stock worth $30,619,037 in the last 90 days. 0.38% of the stock is owned by insiders.
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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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