Piershale Financial Group Inc. bought a new position in shares of Chevron Co. (NYSE:CVX – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 400 shares of the oil and gas company’s stock, valued at approximately $72,000. Chevron comprises about 0.1% of Piershale Financial Group Inc.’s investment portfolio, making the stock its 22nd largest holding.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. ICW Investment Advisors LLC boosted its holdings in shares of Chevron by 0.5% during the 3rd quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company’s stock worth $1,570,000 after purchasing an additional 55 shares during the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of Chevron by 0.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock worth $1,051,000 after purchasing an additional 57 shares during the last quarter. Klingman & Associates LLC boosted its holdings in shares of Chevron by 1.6% during the 3rd quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock worth $537,000 after purchasing an additional 58 shares during the last quarter. Knuff & Co LLC boosted its holdings in shares of Chevron by 0.5% during the 3rd quarter. Knuff & Co LLC now owns 12,234 shares of the oil and gas company’s stock worth $1,758,000 after purchasing an additional 60 shares during the last quarter. Finally, SignalPoint Asset Management LLC lifted its holdings in Chevron by 0.4% in the third quarter. SignalPoint Asset Management LLC now owns 14,906 shares of the oil and gas company’s stock valued at $2,141,000 after acquiring an additional 61 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.
Chevron Stock Down 2.0 %
Chevron stock opened at $156.07 on Thursday. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The stock’s fifty day simple moving average is $167.93 and its 200-day simple moving average is $169.43. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $297.57 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.74 and a beta of 1.16.
Chevron Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.87%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio is currently 33.04%.
Chevron declared that its Board of Directors has approved a share repurchase program on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts recently commented on CVX shares. StockNews.com started coverage on Chevron in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price objective on Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, January 30th. Piper Sandler decreased their price objective on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. HSBC upped their price objective on Chevron to $187.00 in a report on Friday, December 2nd. Finally, BNP Paribas cut Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price objective on the stock. in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $189.50.
Insider Transactions at Chevron
In other news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.
About Chevron
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 the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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