Taylor Hoffman Wealth Management boosted its holdings in Chevron Co. (NYSE:CVX) by 28.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,155 shares of the oil and gas company’s stock after purchasing an additional 2,000 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Chevron were worth $1,086,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. First Financial Bank Trust Division raised its holdings in Chevron by 18.4% during the 2nd quarter. First Financial Bank Trust Division now owns 74,960 shares of the oil and gas company’s stock valued at $9,328,000 after buying an additional 11,667 shares during the period. Private Trust Co. NA grew its position in Chevron by 6.5% in the 2nd quarter. Private Trust Co. NA now owns 42,640 shares of the oil and gas company’s stock valued at $5,306,000 after acquiring an additional 2,617 shares during the last quarter. Fulton Bank N.A. grew its position in Chevron by 0.4% in the 2nd quarter. Fulton Bank N.A. now owns 53,721 shares of the oil and gas company’s stock valued at $6,685,000 after acquiring an additional 210 shares during the last quarter. Stillwater Investment Management LLC grew its position in Chevron by 3.8% in the 2nd quarter. Stillwater Investment Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 109 shares during the last quarter. Finally, Ellenbecker Investment Group grew its position in Chevron by 8.7% in the 2nd quarter. Ellenbecker Investment Group now owns 2,847 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.
CVX stock traded down $0.96 during trading on Friday, reaching $120.93. 4,176,056 shares of the company traded hands, compared to its average volume of 6,442,372. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $127.34. The business has a 50 day simple moving average of $117.65 and a 200 day simple moving average of $119.96. The company has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Friday, November 15th. Chevron’s payout ratio is currently 57.70%.
In other Chevron news, EVP Joseph C. Geagea sold 5,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $118.10, for a total value of $590,500.00. Following the completion of the sale, the executive vice president now directly owns 6,243 shares in the company, valued at $737,298.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the completion of the sale, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,750 shares of company stock worth $11,216,850. 0.31% of the stock is owned by corporate insiders.
Several brokerages have commented on CVX. JPMorgan Chase & Co. cut their price objective on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Cowen cut their price objective on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. BMO Capital Markets began coverage on Chevron in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price objective on the stock. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley dropped their price target on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $135.88.
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.
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