Beaumont Financial Advisors LLC acquired a new position in Chevron Co. (NYSE:CVX – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,187 shares of the oil and gas company’s stock, valued at approximately $1,828,000.
A number of other large investors have also modified their holdings of CVX. Worth Asset Management LLC acquired a new stake in shares of Chevron in the 1st quarter worth about $36,000. JDM Financial Group LLC bought a new position in Chevron in the 4th quarter valued at about $42,000. Global Wealth Strategies & Associates bought a new position in Chevron in the 4th quarter valued at about $46,000. Orion Capital Management LLC grew its position in Chevron by 32.9% in the 4th quarter. Orion Capital Management LLC now owns 295 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 73 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in Chevron by 127.3% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.
Chevron Stock Performance
Shares of CVX opened at $167.65 on Friday. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The company has a 50-day moving average of $164.18 and a two-hundred day moving average of $169.66. The stock has a market cap of $319.65 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.81 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23.
Chevron Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.60%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s dividend payout ratio is 33.04%.
Chevron announced that its board has initiated a share 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 repurchase up to 21.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CVX. Barclays increased their target price on shares of Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Morgan Stanley decreased their target price on shares of Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, March 27th. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and increased their target price for the company from $190.00 to $191.00 in a research report on Friday, January 6th. Wells Fargo & Company reduced their price objective on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Finally, Raymond James reduced their price objective on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Monday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus target price of $189.76.
Insider Transactions at Chevron
In other news, VP Rhonda J. Morris sold 19,666 shares of the 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 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 is available through the SEC website. 0.32% of the stock is owned by insiders.
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- Hypercharge Networks: Up Triple Digits, But What’s The Big Deal?
- 3 Reasons Why Apple’s 30% Rally Has Legs
- 3 Reasons to Pick First Citizens Instead of First Republic Bank
- 3 April Earnings Plays for Bullish Swing Traders
- Is Constellation Brands Star About To Rise?
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.
