Burns J W & Co. Inc. NY raised its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,624 shares of the oil and gas company’s stock after purchasing an additional 2,906 shares during the period. Chevron accounts for approximately 2.6% of Burns J W & Co. Inc. NY’s portfolio, making the stock its 5th largest holding. Burns J W & Co. Inc. NY’s holdings in Chevron were worth $14,292,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Worth Asset Management LLC bought a new position in shares of Chevron in the first quarter worth $36,000. JDM Financial Group LLC purchased a new stake in shares of Chevron in the fourth quarter worth $42,000. Hillsdale Investment Management Inc. raised its position in shares of Chevron by 127.3% in the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock worth $54,000 after buying an additional 210 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its position in shares of Chevron by 65.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 423 shares of the oil and gas company’s stock worth $61,000 after buying an additional 168 shares in the last quarter. Finally, Piershale Financial Group Inc. purchased a new stake in shares of Chevron in the fourth quarter worth $72,000. 69.37% of the stock is owned by institutional investors.
Chevron Stock Down 1.0 %
NYSE CVX opened at $154.52 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. The stock has a market capitalization of $294.62 billion, a PE ratio of 8.45, a PEG ratio of 0.76 and a beta of 1.16. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68. The business’s 50-day moving average is $167.48 and its 200 day moving average is $169.32.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a $1.51 dividend. The ex-dividend date was Wednesday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a dividend yield of 3.91%. Chevron’s dividend payout ratio (DPR) is presently 33.04%.
Chevron announced that its board has authorized a stock buyback plan on Wednesday, January 25th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
CVX has been the topic of a number of recent analyst reports. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $190.00 to $191.00 in a research report on Friday, January 6th. BNP Paribas downgraded Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price objective on the stock. in a research report on Wednesday, December 14th. Morgan Stanley lowered their price objective on Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. StockNews.com started coverage on Chevron in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Truist Financial raised their price target on Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.50.
Insider Buying and Selling
In related news, VP Rhonda J. Morris sold 19,666 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now directly owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.
Chevron Company Profile
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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