A.R.T. Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 89,600 shares of the oil and gas company’s stock, valued at approximately $10,217,000. Chevron accounts for 0.4% of A.R.T. Advisors LLC’s portfolio, making the stock its 26th largest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stellar Capital Management LLC increased its holdings in Chevron by 1.9% in the 1st quarter. Stellar Capital Management LLC now owns 21,011 shares of the oil and gas company’s stock worth $2,397,000 after acquiring an additional 401 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in Chevron by 25.4% in the 1st quarter. Chase Investment Counsel Corp now owns 2,074 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 420 shares in the last quarter. Concentric Wealth Management LLC increased its holdings in Chevron by 1.9% in the 1st quarter. Concentric Wealth Management LLC now owns 23,656 shares of the oil and gas company’s stock worth $2,698,000 after acquiring an additional 432 shares in the last quarter. FTB Advisors Inc. increased its holdings in Chevron by 0.9% in the 1st quarter. FTB Advisors Inc. now owns 49,208 shares of the oil and gas company’s stock worth $5,651,000 after acquiring an additional 445 shares in the last quarter. Finally, Advisory Research Inc. increased its holdings in Chevron by 3.4% in the 4th quarter. Advisory Research Inc. now owns 13,880 shares of the oil and gas company’s stock worth $1,738,000 after acquiring an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 64.27% of the company’s stock.
Shares of CVX opened at $117.66 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron Co. has a 12-month low of $105.30 and a 12-month high of $133.88. The stock has a market capitalization of $236.34 billion, a P/E ratio of 31.90, a PEG ratio of 2.18 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, August 16th. Chevron’s dividend payout ratio is currently 121.08%.
In related news, EVP James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $126.96, for a total value of $603,060.00. Following the completion of the sale, the executive vice president now owns 4,750 shares of the company’s stock, valued at $603,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 19,000 shares of company stock valued at $2,422,690 in the last three months. 0.46% of the stock is currently owned by insiders.
CVX has been the subject of several recent analyst reports. Mizuho initiated coverage on shares of Chevron in a report on Friday, June 8th. They issued a “buy” rating and a $145.00 price target for the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $140.00 target price on shares of Chevron in a report on Monday, April 23rd. Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 target price on shares of Chevron in a report on Tuesday, July 31st. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Finally, Credit Suisse Group set a $132.00 target price on shares of Chevron and gave the stock a “hold” rating in a report on Sunday, July 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $138.49.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
Further Reading: Book Value Per Share – BVPS
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