Stock Yards Bank & Trust Co. raised its holdings in Chevron Co. (NYSE:CVX) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 249,112 shares of the oil and gas company’s stock after purchasing an additional 8,610 shares during the quarter. Chevron accounts for approximately 1.6% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its 22nd biggest position. Stock Yards Bank & Trust Co.’s holdings in Chevron were worth $25,272,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CVX. DAVENPORT & Co LLC boosted its holdings in shares of Chevron by 15.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 681,068 shares of the oil and gas company’s stock valued at $71,335,000 after acquiring an additional 92,201 shares in the last quarter. CapWealth Advisors LLC boosted its holdings in shares of Chevron by 4.9% during the 2nd quarter. CapWealth Advisors LLC now owns 157,447 shares of the oil and gas company’s stock valued at $16,491,000 after acquiring an additional 7,351 shares in the last quarter. Oakwood Capital Management LLC CA boosted its holdings in shares of Chevron by 2.0% during the 2nd quarter. Oakwood Capital Management LLC CA now owns 53,292 shares of the oil and gas company’s stock valued at $5,582,000 after acquiring an additional 1,037 shares in the last quarter. Vigilare Wealth Management boosted its holdings in shares of Chevron by 72.9% during the 2nd quarter. Vigilare Wealth Management now owns 6,721 shares of the oil and gas company’s stock valued at $704,000 after acquiring an additional 2,834 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC boosted its holdings in shares of Chevron by 5.5% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 40,028 shares of the oil and gas company’s stock valued at $4,192,000 after acquiring an additional 2,083 shares in the last quarter. 65.55% of the stock is currently owned by hedge funds and other institutional investors.
CVX traded up $0.89 during midday trading on Thursday, reaching $117.19. 8,500,870 shares of the company were exchanged, compared to its average volume of 10,450,242. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.28. The company’s fifty day moving average price is $109.21 and its 200 day moving average price is $104.90. The company has a market cap of $225.91 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30. Chevron Co. has a one year low of $83.53 and a one year high of $118.08.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Thursday, November 18th will be paid a $1.34 dividend. The ex-dividend date is Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.57%. Chevron’s payout ratio is presently 103.47%.
In other Chevron news, EVP James William Johnson sold 78,000 shares of the business’s stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of $113.13, for a total transaction of $8,824,140.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of $112.01, for a total transaction of $627,256.00. The disclosure for this sale can be found here. Insiders sold a total of 325,651 shares of company stock worth $37,293,688 in the last 90 days. Company insiders own 0.29% of the company’s stock.
Several equities research analysts recently weighed in on CVX shares. Truist raised their price objective on Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Societe Generale assumed coverage on Chevron in a report on Friday, October 22nd. They set a “buy” rating and a $130.00 price objective on the stock. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a report on Wednesday, August 4th. Raymond James lifted their target price on Chevron from $134.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, November 1st. Finally, Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $145.00 in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $121.23.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.
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