City Holding Co. increased its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,448 shares of the oil and gas company’s stock after purchasing an additional 734 shares during the period. Chevron accounts for 1.2% of City Holding Co.’s investment portfolio, making the stock its 16th largest holding. City Holding Co.’s holdings in Chevron were worth $6,599,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Crew Capital Management Ltd. acquired a new stake in Chevron during the 1st quarter worth approximately $226,000. Valeo Financial Advisors LLC raised its stake in shares of Chevron by 0.8% during the first quarter. Valeo Financial Advisors LLC now owns 54,595 shares of the oil and gas company’s stock worth $5,945,000 after purchasing an additional 428 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in shares of Chevron by 2.8% during the first quarter. Naples Global Advisors LLC now owns 25,621 shares of the oil and gas company’s stock worth $4,180,000 after purchasing an additional 706 shares during the period. Parsons Capital Management Inc. RI grew its position in Chevron by 3.4% in the 1st quarter. Parsons Capital Management Inc. RI now owns 86,712 shares of the oil and gas company’s stock valued at $14,148,000 after buying an additional 2,874 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC increased its stake in Chevron by 22.2% in the 1st quarter. B.O.S.S. Retirement Advisors LLC now owns 36,239 shares of the oil and gas company’s stock valued at $5,913,000 after buying an additional 6,588 shares during the period. 69.65% of the stock is owned by hedge funds and other institutional investors.
Chevron Trading Up 0.9 %
Shares of CVX stock opened at $154.94 on Thursday. The company has a market capitalization of $293.56 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.78 and a beta of 1.17. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $157.95 and a 200 day moving average price of $165.27.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.90%. Chevron’s dividend payout ratio (DPR) is presently 32.61%.
Analysts Set New Price Targets
Several research firms have recently commented on CVX. Raymond James reduced their target price on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research note on Friday, April 14th. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $180.00 in a research report on Thursday, June 1st. UBS Group assumed coverage on Chevron in a report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price target for the company. Finally, BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price objective on the stock in a report on Tuesday, April 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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