Capital Financial Services LLC cut its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,565 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Capital Financial Services LLC’s holdings in Chevron were worth $281,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in shares of Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC raised its holdings in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC raised its holdings in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after acquiring an additional 250,840 shares in the last quarter. 69.37% of the stock is owned by institutional investors.
Chevron Stock Up 0.5 %
CVX stock opened at $163.16 on Monday. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The company has a market cap of $311.09 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.79 and a beta of 1.16. The business’s 50-day simple moving average is $165.22 and its 200 day simple moving average is $169.51. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13.
Chevron declared that its board has authorized a stock repurchase program on Wednesday, January 25th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Chevron Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 3.70%. Chevron’s dividend payout ratio (DPR) is currently 33.04%.
Insiders Place Their Bets
In other news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the completion of the transaction, the vice president now owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. StockNews.com assumed coverage on Chevron in a report on Thursday, March 16th. They set a “hold” rating for the company. Truist Financial increased their price objective on Chevron from $169.00 to $179.00 and gave the stock a “hold” rating in a report on Tuesday, January 31st. Morgan Stanley cut their price objective on Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, March 27th. Barclays raised their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Finally, Cowen cut their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $189.33.
Chevron 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.
Featured Stories
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- MarketBeat Week in Review – 3/27 – 3/31
- What is a Gold IRA, and is it a Viable Investment?
- Is Braze Inc Ready To Rocket Higher?
- Mullen Automotive Makes Deliveries; Short-Squeeze Possible
- Can Frontline Maintain This Momentum?
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
