Triangle Securities Wealth Management raised its position in shares of Chevron Co. (NYSE:CVX) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,540 shares of the oil and gas company’s stock after acquiring 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.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sofos Investments Inc. boosted its position in Chevron by 10,500.0% during the second quarter. Sofos Investments Inc. now owns 106 shares of the oil and gas company’s stock valued at $116,000 after acquiring an additional 105 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Chevron during the 2nd quarter worth about $30,000. Horan Securities Inc. boosted its position in shares of Chevron by 196.0% during the 2nd quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 196 shares in the last quarter. Newton One Investments LLC bought a new position in shares of Chevron during the 2nd quarter worth about $34,000. Finally, Capital Directions Investment Advisors LLC boosted its position in shares of Chevron by 66.7% during the 2nd quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 150 shares in the last quarter. 65.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVX stock opened at $117.19 on Thursday. The company has a 50 day moving average of $109.21 and a 200-day moving average of $104.90. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27. Chevron Co. has a 12-month low of $83.53 and a 12-month high of $118.08. The firm has a market cap of $225.91 billion, a P/E ratio of 22.62, a PEG ratio of 2.42 and a beta of 1.30.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Thursday, November 18th will be paid a dividend of $1.34 per share. The ex-dividend date is Wednesday, November 17th. This represents a $5.36 annualized dividend and a dividend yield of 4.57%. Chevron’s payout ratio is currently 103.47%.
In related news, VP Colin E. Parfitt sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $115.01, for a total value of $1,725,150.00. The transaction was disclosed in a 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 firm’s stock in a transaction that occurred on Wednesday, October 20th. The stock was 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. In the last 90 days, insiders have sold 325,651 shares of company stock valued at $37,293,688. 0.29% of the stock is currently owned by company insiders.
CVX has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Chevron from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, November 1st. UBS Group raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Monday, November 15th. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $130.00 to $145.00 in a research report on Wednesday. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research report on Wednesday, August 4th. Finally, JPMorgan Chase & Co. lowered shares of Chevron from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $128.00 to $111.00 in a report on Wednesday, September 15th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Buy” and a consensus price target 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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