Regent Investment Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 23,916 shares of the oil and gas company’s stock after selling 622 shares during the quarter. Chevron accounts for approximately 1.0% of Regent Investment Management LLC’s portfolio, making the stock its 24th biggest position. Regent Investment Management LLC’s holdings in Chevron were worth $2,994,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after purchasing an additional 3,920,240 shares during the period. Capital World Investors grew its stake in Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after purchasing an additional 3,182,250 shares during the period. Janus Henderson Group PLC grew its stake in Chevron by 669.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after purchasing an additional 2,810,928 shares during the period. First Eagle Investment Management LLC grew its stake in Chevron by 305,886.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after purchasing an additional 2,612,270 shares during the period. Finally, BlackRock Inc. grew its stake in Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after purchasing an additional 1,975,865 shares during the period. 64.98% of the stock is owned by institutional investors and hedge funds.
CVX stock opened at $114.04 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $217,845.27, a PE ratio of 27.95, a PEG ratio of 2.24 and a beta of 1.16. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88.
The company also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, February 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.93%. Chevron’s dividend payout ratio is presently 121.08%.
CVX has been the subject of a number of recent analyst reports. UBS set a $120.00 price objective on Chevron and gave the company a “neutral” rating in a research note on Monday, December 4th. Credit Suisse Group initiated coverage on Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price objective for the company. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Chevron in a research note on Wednesday, December 20th. Cowen restated an “outperform” rating and issued a $160.00 price objective (up previously from $122.00) on shares of Chevron in a research note on Thursday, December 21st. Finally, Royal Bank of Canada set a $110.00 price objective on Chevron and gave the company a “sell” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $129.79.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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