Financial Advisors LLC Buys New Position in Chevron Co. (NYSE:CVX)
Financial Advisors LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,910 shares of the oil and gas company’s stock, valued at approximately $534,000. Chevron makes up about 0.4% of Financial Advisors LLC’s investment portfolio, making the stock its 19th largest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Chevron by 9.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 279,877 shares of the oil and gas company’s stock worth $34,223,000 after acquiring an additional 23,750 shares during the last quarter. Intersect Capital LLC raised its holdings in shares of Chevron by 2.3% in the 3rd quarter. Intersect Capital LLC now owns 30,726 shares of the oil and gas company’s stock worth $3,757,000 after acquiring an additional 695 shares during the last quarter. Somerset Group LLC raised its holdings in shares of Chevron by 3.3% in the 3rd quarter. Somerset Group LLC now owns 20,279 shares of the oil and gas company’s stock worth $2,480,000 after acquiring an additional 645 shares during the last quarter. Guyasuta Investment Advisors Inc. raised its holdings in shares of Chevron by 2.4% in the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 140,771 shares of the oil and gas company’s stock worth $17,213,000 after acquiring an additional 3,316 shares during the last quarter. Finally, Weatherly Asset Management L. P. raised its holdings in shares of Chevron by 3.7% in the 3rd quarter. Weatherly Asset Management L. P. now owns 16,515 shares of the oil and gas company’s stock worth $2,020,000 after acquiring an additional 582 shares during the last quarter. 65.44% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CVX opened at $120.19 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $230.80 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.45 and a beta of 0.98. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $128.55.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.19 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.76 annualized dividend and a yield of 3.96%. Chevron’s dividend payout ratio (DPR) is 57.70%.
In other news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $125.60, for a total transaction of $596,600.00. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at approximately $596,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total transaction of $255,675.00. Following the sale, the director now owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,050 shares of company stock valued at $1,365,221. Company insiders own 0.31% of the company’s stock.
CVX has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Royal Bank of Canada upgraded shares of Chevron to a “sector perform” rating and set a $145.00 target price on the stock in a report on Wednesday, March 6th. Cowen restated an “outperform” rating and issued a $140.00 target price (down previously from $160.00) on shares of Chevron in a report on Thursday, February 28th. Morgan Stanley initiated coverage on shares of Chevron in a report on Friday, April 12th. They issued an “overweight” rating and a $150.00 target price on the stock. Finally, Barclays upped their target price on shares of Chevron from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $135.42.
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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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