Allworth Financial LP lessened its stake in shares of Chevron Co. (NYSE:CVX) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,422 shares of the oil and gas company’s stock after selling 6,911 shares during the quarter. Allworth Financial LP’s holdings in Chevron were worth $4,557,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Guidant Wealth Advisors raised its position in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in shares of Chevron in the second quarter valued at $34,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Chevron in the second quarter valued at $46,000. Cordasco Financial Network boosted its stake in shares of 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 acquiring an additional 135 shares during the last quarter. Finally, CKW Financial Group boosted its stake in shares of 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 acquiring an additional 251 shares during the last quarter. Institutional investors and hedge funds own 65.61% of the company’s stock.
NYSE CVX traded up $1.43 on Wednesday, hitting $113.14. 3,623,247 shares of the stock traded hands, compared to its average volume of 6,602,001. The stock has a 50-day moving average of $118.52 and a 200 day moving average of $120.82. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.60. The company has a market capitalization of $216.13 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, August 16th. Chevron’s payout ratio is currently 57.70%.
Several equities research analysts recently issued reports on CVX shares. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays assumed coverage on Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 price target for the company. Morgan Stanley lowered their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Cowen set a $140.00 price target on Chevron and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Independent Research set a $127.00 price target on Chevron and gave the company a “neutral” rating in a research report on Thursday, August 29th. Five investment 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 a consensus price target of $137.47.
In other news, EVP Joseph C. Geagea sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $122.97, for a total transaction of $1,229,700.00. Following the sale, the executive vice president now directly owns 11,243 shares in the company, valued at approximately $1,382,551.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Debra L. Reed purchased 4,250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders have sold 86,750 shares of company stock worth $10,648,200 in the last 90 days. 0.31% of the stock is currently owned by insiders.
Chevron Company Profile
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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