5,520 Shares in Chevron Co. (NYSE:CVX) Bought by TradeLink Capital LLC
TradeLink Capital LLC bought a new stake in Chevron Co. (NYSE:CVX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,520 shares of the oil and gas company’s stock, valued at approximately $493,000. Chevron accounts for approximately 2.0% of TradeLink Capital LLC’s portfolio, making the stock its 16th biggest holding.
Other institutional investors have also added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new stake in Chevron in the second quarter valued at $25,000. Corbenic Partners LLC lifted its holdings in Chevron by 276.0% in the first quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 265 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in Chevron in the second quarter valued at $36,000. Asset Advisors Investment Management LLC acquired a new stake in Chevron in the second quarter valued at $36,000. Finally, Watson Rebecca acquired a new stake in Chevron in the second quarter valued at $39,000. 64.60% of the stock is owned by institutional investors.
CVX has been the subject of a number of research analyst reports. UBS Group cut Chevron from a “buy” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Tuesday, May 12th. Piper Sandler raised their price target on Chevron from $96.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Independent Research cut Chevron to a “hold” rating in a research report on Tuesday, April 14th. Raymond James raised their price target on Chevron from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Finally, SunTrust Banks initiated coverage on Chevron in a research report on Thursday, July 23rd. They issued a “buy” rating and a $120.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $111.25.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.66). The firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The business’s revenue for the quarter was down 64.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. On average, research analysts forecast that Chevron Co. will post 0.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Tuesday, August 18th. Chevron’s dividend payout ratio is currently 82.30%.
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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