Arden Trust Co lowered its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,452 shares of the oil and gas company’s stock after selling 1,302 shares during the quarter. Chevron comprises 0.8% of Arden Trust Co’s holdings, making the stock its 22nd largest holding. Arden Trust Co’s holdings in Chevron were worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CVX. Guidant Wealth Advisors boosted its position in Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in Chevron during the second quarter valued at about $34,000. Transamerica Financial Advisors Inc. bought a new stake in Chevron during the second quarter valued at about $46,000. Cordasco Financial Network boosted its position in Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 135 shares in the last quarter. Finally, CKW Financial Group boosted its position in Chevron by 154.0% during the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 251 shares in the last quarter. 65.61% of the stock is currently owned by institutional investors.
Shares of NYSE:CVX traded up $1.55 during trading on Wednesday, hitting $113.26. The stock had a trading volume of 2,000,189 shares, compared to its average volume of 6,611,805. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.60. The stock has a market capitalization of $216.13 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $118.60 and a two-hundred day simple moving average of $120.88.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, August 16th. Chevron’s payout ratio is 57.70%.
A number of equities research analysts have commented on CVX shares. BMO Capital Markets started coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target for the company. Barclays started coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. Independent Research set a $127.00 price target on Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Cowen set a $140.00 price target on Chevron and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $137.47.
In other news, Director Debra L. Reed acquired 4,250 shares of Chevron stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $118.14 per share, for a total transaction of $502,095.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the transaction, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,218,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,750 shares of company stock valued at $10,648,200. Company insiders own 0.31% of the company’s stock.
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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