Amalgamated Bank grew its position in Chevron Co. (NYSE:CVX) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,270 shares of the oil and gas company’s stock after buying an additional 9,683 shares during the quarter. Chevron accounts for 0.7% of Amalgamated Bank’s holdings, making the stock its 18th largest holding. Amalgamated Bank’s holdings in Chevron were worth $29,113,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Reilly Financial Advisors LLC boosted its holdings in Chevron by 531.8% in the second quarter. Reilly Financial Advisors LLC now owns 51,949 shares of the oil and gas company’s stock valued at $6,568,000 after purchasing an additional 43,727 shares during the period. FNY Investment Advisers LLC purchased a new position in Chevron in the second quarter valued at $370,000. Highland Capital Management LLC boosted its holdings in Chevron by 0.4% in the second quarter. Highland Capital Management LLC now owns 134,197 shares of the oil and gas company’s stock valued at $16,967,000 after purchasing an additional 482 shares during the period. World Asset Management Inc boosted its holdings in Chevron by 2.6% in the second quarter. World Asset Management Inc now owns 133,606 shares of the oil and gas company’s stock valued at $16,892,000 after purchasing an additional 3,330 shares during the period. Finally, Jackson Financial Management purchased a new position in Chevron in the second quarter valued at $201,000. 64.82% of the stock is owned by institutional investors and hedge funds.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $551,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.
NYSE CVX traded up $0.38 during trading on Friday, reaching $125.33. 4,311,493 shares of the company’s stock were exchanged, compared to its average volume of 6,365,385. The company has a market capitalization of $234.31 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron Co. has a 1 year low of $108.02 and a 1 year high of $133.88.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The business had revenue of $42.24 billion for the quarter, compared to analysts’ expectations of $46.62 billion. During the same period last year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 8.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 17th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, August 16th. Chevron’s payout ratio is currently 121.08%.
A number of research analysts recently issued reports on the company. Berenberg Bank assumed coverage on Chevron in a report on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price for the company. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 target price for the company in a report on Wednesday, June 13th. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $150.00 to $135.00 in a report on Thursday, September 6th. Barclays lifted their target price on Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Finally, Credit Suisse Group set a $132.00 target price on Chevron and gave the company a “hold” rating in a report on Sunday, July 1st. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $136.83.
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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