Guinness Atkinson Asset Management Inc decreased its position in Chevron Corporation (NYSE:CVX) by 13.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,700 shares of the oil and gas company’s stock after selling 2,000 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Chevron Corporation were worth $1,364,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CVX. Kentucky Retirement Systems purchased a new position in Chevron Corporation during the fourth quarter worth about $16,123,000. First PREMIER Bank increased its position in Chevron Corporation by 4.7% in the first quarter. First PREMIER Bank now owns 4,241 shares of the oil and gas company’s stock worth $456,000 after buying an additional 190 shares during the last quarter. Aviva PLC increased its position in Chevron Corporation by 28.8% in the fourth quarter. Aviva PLC now owns 1,852,324 shares of the oil and gas company’s stock worth $218,185,000 after buying an additional 414,257 shares during the last quarter. Merriman Wealth Management LLC purchased a new position in Chevron Corporation during the first quarter worth about $224,000. Finally, Guggenheim Capital LLC increased its position in Chevron Corporation by 2.1% in the fourth quarter. Guggenheim Capital LLC now owns 988,896 shares of the oil and gas company’s stock worth $116,394,000 after buying an additional 20,383 shares during the last quarter. 62.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Corporation (NYSE:CVX) opened at 103.49 on Monday. The firm has a 50-day moving average price of $105.41 and a 200-day moving average price of $109.94. The stock has a market capitalization of $196.07 billion, a PE ratio of 67.16 and a beta of 1.23. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, April 28th. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.56. The business had revenue of $33.42 billion during the quarter, compared to analysts’ expectations of $34.05 billion. Chevron Corporation had a return on equity of 3.58% and a net margin of 2.34%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) EPS. On average, equities research analysts forecast that Chevron Corporation will post $4.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $4.32 annualized dividend and a dividend yield of 4.17%. Chevron Corporation’s dividend payout ratio is currently 282.35%.
A number of equities analysts have recently issued reports on CVX shares. Vetr raised Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price target on the stock in a research report on Friday, April 14th. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Scotiabank set a $114.00 price target on Chevron Corporation and gave the stock a “buy” rating in a research report on Monday, May 1st. Exane BNP Paribas downgraded Chevron Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $105.00 to $100.00 in a research report on Friday, May 26th. Finally, Royal Bank of Canada downgraded Chevron Corporation from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $112.00 to $100.00 in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $116.18.
Chevron Corporation 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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