Rockland Trust Co. reduced its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,296 shares of the oil and gas company’s stock after selling 1,826 shares during the quarter. Rockland Trust Co.’s holdings in Chevron were worth $7,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the business. Rebalance LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $26,000. Western Pacific Wealth Management LP bought a new position in shares of Chevron during the 4th quarter valued at $37,000. Red Tortoise LLC purchased a new position in shares of Chevron in the 4th quarter worth $37,000. Worth Asset Management LLC bought a new position in Chevron in the first quarter valued at about $36,000. Finally, JDM Financial Group LLC purchased a new position in Chevron in the fourth quarter worth about $42,000. 69.65% of the stock is currently owned by institutional investors.
Chevron Price Performance
Chevron stock opened at $154.22 on Monday. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average is $156.16 and its 200 day moving average is $164.46. The company has a market cap of $292.19 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.78 and a beta of 1.16.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is currently 32.61%.
Analyst Upgrades and Downgrades
CVX has been the subject of several recent research reports. Mizuho cut their target price on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. UBS Group started coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price objective for the company. Morgan Stanley raised their target price on Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. StockNews.com initiated coverage on Chevron in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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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