Eagle Bay Advisors LLC grew its stake in Chevron Co. (NYSE:CVX – Get Rating) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,897 shares of the oil and gas company’s stock after acquiring an additional 270 shares during the period. Eagle Bay Advisors LLC’s holdings in Chevron were worth $520,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Chevron by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares during the period. Legal & General Group Plc grew its stake in shares of Chevron by 16.3% in the second quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock worth $1,964,620,000 after acquiring an additional 1,899,104 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Chevron by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock worth $1,731,739,000 after acquiring an additional 847,841 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Chevron by 1.6% in the third quarter. Nuveen Asset Management LLC now owns 9,953,548 shares of the oil and gas company’s stock valued at $1,430,026,000 after acquiring an additional 155,955 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Chevron by 4.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,762,782 shares of the oil and gas company’s stock valued at $1,115,281,000 after purchasing an additional 309,277 shares during the period. 69.37% of the stock is currently owned by institutional investors and hedge funds.
Chevron Trading Down 1.3 %
NYSE:CVX opened at $167.65 on Friday. 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 Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The stock’s 50 day moving average price is $163.94 and its 200 day moving average price is $169.83. The company has a market capitalization of $319.65 billion, a PE ratio of 9.17, a P/E/G ratio of 0.81 and a beta of 1.16.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. This is an increase from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 3.60%. Chevron’s dividend payout ratio is 33.04%.
Chevron declared that its board has authorized a share repurchase plan on Wednesday, January 25th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. StockNews.com initiated coverage on Chevron in a report on Thursday, March 16th. They set a “hold” rating on the stock. Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and raised their target price for the company from $190.00 to $191.00 in a report on Friday, January 6th. Barclays increased their price objective 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. Mizuho restated a “neutral” rating and issued a $206.00 price objective on shares of Chevron in a report on Friday, March 17th. Finally, Raymond James lowered their target price on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research note on Monday, January 30th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $189.76.
Insider Buying and Selling
In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 3,967 shares of the company’s stock, valued at approximately $674,390. The transaction was disclosed in a document filed with the SEC, 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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