First Hawaiian Bank cut its stake in Chevron Corp. (NYSE:CVX) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 18,621 shares of the company’s stock after selling 416 shares during the period. Chevron Corp. accounts for 0.3% of First Hawaiian Bank’s investment portfolio, making the stock its 28th largest position. First Hawaiian Bank’s holdings in Chevron Corp. were worth $1,917,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of CVX. Capital Research Global Investors increased its position in shares of Chevron Corp. by 272.6% in the second quarter. Capital Research Global Investors now owns 14,239,856 shares of the company’s stock worth $1,492,764,000 after buying an additional 10,417,906 shares in the last quarter. Jarislowsky Fraser Ltd increased its position in shares of Chevron Corp. by 411.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,793,376 shares of the company’s stock worth $221,830,000 after buying an additional 3,051,817 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock worth $13,087,581,000 after buying an additional 2,824,724 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Chevron Corp. during the second quarter worth $227,457,000. Finally, BlackRock Fund Advisors increased its position in shares of Chevron Corp. by 6.5% in the second quarter. BlackRock Fund Advisors now owns 32,652,251 shares of the company’s stock worth $3,422,935,000 after buying an additional 1,983,103 shares in the last quarter. Institutional investors and hedge funds own 61.06% of the company’s stock.
Chevron Corp. (NYSE:CVX) traded down 0.31% during mid-day trading on Thursday, hitting $115.58. 3,423,205 shares of the stock were exchanged. The stock’s 50 day moving average is $116.32 and its 200 day moving average is $106.37. Chevron Corp. has a 52-week low of $78.02 and a 52-week high of $119.00. The stock’s market cap is $218.19 billion.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.29. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The firm had revenue of $30.14 billion for the quarter, compared to the consensus estimate of $29.71 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. Analysts forecast that Chevron Corp. will post $1.36 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Goldman Sachs Group Inc. raised shares of Chevron Corp. to a “buy” rating in a research report on Sunday, December 18th. TheStreet raised shares of Chevron Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, December 21st. Vetr downgraded shares of Chevron Corp. from a “sell” rating to a “strong sell” rating and set a $100.98 price target for the company. in a research report on Tuesday, January 3rd. Bank of America Corp. raised shares of Chevron Corp. from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Chevron Corp. in a research report on Monday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $110.81.
In other Chevron Corp. news, Director Linnet F. Deily sold 5,637 shares of the stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the transaction, the insider now directly owns 28,911 shares in the company, valued at $3,180,210. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
About Chevron Corp.
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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