Financial Advisory Group grew its stake in Chevron Corporation (NYSE:CVX) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,466 shares of the oil and gas company’s stock after acquiring an additional 26 shares during the period. Financial Advisory Group’s holdings in Chevron were worth $570,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron in the 2nd quarter valued at about $106,000. Thompson Davis & CO. Inc. grew its holdings in Chevron by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares during the period. Winfield Associates Inc. grew its holdings in Chevron by 5.1% during the second 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. Daiwa SB Investments Ltd. grew its holdings in Chevron by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares during the period. Finally, New Capital Management LP grew its holdings in Chevron by 0.3% during the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4 shares during the period. Institutional investors own 63.93% of the company’s stock.
Shares of Chevron Corporation (NYSE CVX) opened at $121.15 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The stock has a market cap of $226,994.17, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 3.89 and a beta of 1.21. Chevron Corporation has a 1 year low of $102.55 and a 1 year high of $122.30.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.57%. Chevron’s dividend payout ratio (DPR) is presently 125.95%.
In other news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock valued at $36,540,822 over the last 90 days. Company insiders own 0.38% of the company’s stock.
CVX has been the subject of a number of research analyst reports. UBS set a $105.00 price target on Chevron and gave the stock a “neutral” rating in a report on Wednesday, September 6th. Morgan Stanley lifted their price target on Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Citigroup lifted their price target on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Credit Suisse Group set a $123.00 price target on Chevron and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Jefferies Group set a $130.00 price target on Chevron and gave the stock a “buy” rating in a report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $121.22.
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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