Triangle Securities Wealth Management increased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,540 shares of the oil and gas company’s stock after buying an additional 484 shares during the quarter. Triangle Securities Wealth Management’s holdings in Chevron were worth $1,678,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of CVX. Hoylecohen LLC raised its stake in Chevron by 22.6% during the 1st quarter. Hoylecohen LLC now owns 117,831 shares of the oil and gas company’s stock worth $12,348,000 after buying an additional 21,758 shares during the period. Optiver Holding B.V. acquired a new stake in Chevron during the 1st quarter worth $1,288,000. Stonnington Group LLC acquired a new stake in shares of Chevron in the 1st quarter valued at about $360,000. Tectonic Advisors LLC raised its stake in shares of Chevron by 7.7% in the 1st quarter. Tectonic Advisors LLC now owns 3,608 shares of the oil and gas company’s stock valued at $378,000 after purchasing an additional 258 shares during the period. Finally, Pendal Group Limited acquired a new stake in shares of Chevron in the 1st quarter valued at about $1,320,000. 65.55% of the stock is currently owned by institutional investors and hedge funds.
Chevron stock opened at $117.19 on Thursday. Chevron Co. has a 52 week low of $83.53 and a 52 week high of $118.08. 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 stock has a market capitalization of $225.91 billion, a P/E ratio of 22.62, a PEG ratio of 2.42 and a beta of 1.30. The stock has a 50-day simple moving average of $109.21 and a 200 day simple moving average of $104.90.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Thursday, November 18th will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Wednesday, November 17th. Chevron’s dividend payout ratio is presently 103.47%.
Several research firms have issued reports on CVX. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Wednesday, August 4th. Wells Fargo & Company lifted their price target on Chevron from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, November 1st. UBS Group raised Chevron from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Monday, November 15th. JPMorgan Chase & Co. downgraded Chevron from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $128.00 to $111.00 in a research note on Wednesday, September 15th. Finally, Raymond James lifted their price target on Chevron from $134.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, November 1st. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $121.23.
In related news, VP R. Hewitt Pate sold 39,000 shares of the business’s stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $115.04, for a total value of $4,486,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 20th. The shares were sold at an average price of $112.01, for a total value of $627,256.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,651 shares of company stock valued at $37,293,688. Corporate insiders own 0.29% of the company’s stock.
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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