Sheaff Brock Investment Advisors LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,826 shares of the oil and gas company’s stock after selling 3,835 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Chevron were worth $5,987,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Amica Mutual Insurance Co. boosted its position in shares of Chevron by 99.6% during the 4th quarter. Amica Mutual Insurance Co. now owns 92,167 shares of the oil and gas company’s stock valued at $11,538,000 after acquiring an additional 45,988 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of Chevron by 4.6% during the 4th quarter. Standard Life Aberdeen plc now owns 3,849,359 shares of the oil and gas company’s stock valued at $482,335,000 after acquiring an additional 170,953 shares in the last quarter. Mutual Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $2,052,000. Brown Advisory Securities LLC boosted its position in shares of Chevron by 3.5% during the 4th quarter. Brown Advisory Securities LLC now owns 23,116 shares of the oil and gas company’s stock valued at $2,898,000 after acquiring an additional 782 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Chevron by 4.2% in the fourth quarter. State of Tennessee Treasury Department now owns 904,014 shares of the oil and gas company’s stock valued at $113,173,000 after buying an additional 36,095 shares in the last quarter. Institutional investors and hedge funds own 64.99% of the company’s stock.
Shares of NYSE CVX opened at $127.86 on Friday. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The stock has a market capitalization of $247.30 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 2.49 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Thursday, May 17th. Chevron’s dividend payout ratio is presently 121.08%.
A number of research firms have commented on CVX. Royal Bank of Canada upgraded shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price target on the stock in a research report on Friday, February 9th. Morgan Stanley boosted their price target on shares of Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Credit Suisse Group boosted their price target on shares of Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, April 30th. Vetr lowered shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target on the stock. in a research report on Monday, February 26th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $131.92.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Patricia E. Yarrington sold 135,000 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $130.00, for a total transaction of $17,550,000.00. Following the completion of the transaction, the chief financial officer now directly owns 139,838 shares of the company’s stock, valued at $18,178,940. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 377,000 shares of company stock valued at $48,519,200. Insiders own 0.38% 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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