Blue Edge Capital LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,700 shares of the oil and gas company’s stock after selling 258 shares during the quarter. Blue Edge Capital LLC’s holdings in Chevron were worth $228,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. MML Investors Services LLC lifted its stake in shares of Chevron by 5.5% during the third quarter. MML Investors Services LLC now owns 228,903 shares of the oil and gas company’s stock worth $16,481,000 after buying an additional 12,017 shares during the period. Lumature Wealth Partners LLC purchased a new position in Chevron in the fourth quarter valued at $292,000. CIBC World Markets Inc. increased its holdings in Chevron by 209.0% in the fourth quarter. CIBC World Markets Inc. now owns 725,525 shares of the oil and gas company’s stock valued at $61,271,000 after buying an additional 490,698 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in Chevron by 23.6% in the fourth quarter. Meridian Wealth Management LLC now owns 26,941 shares of the oil and gas company’s stock valued at $2,275,000 after buying an additional 5,147 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Chevron by 1.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,833,303 shares of the oil and gas company’s stock valued at $154,822,000 after buying an additional 32,797 shares in the last quarter. 62.27% of the stock is currently owned by institutional investors.
NYSE:CVX traded up $0.69 on Tuesday, hitting $99.08. The stock had a trading volume of 624,740 shares, compared to its average volume of 10,065,750. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26. The stock has a market cap of $185.01 billion, a price-to-earnings ratio of -16.02, a PEG ratio of 5.74 and a beta of 1.33. The company has a fifty day moving average price of $91.13 and a two-hundred day moving average price of $83.85. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $106.96.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 17th will be issued a $1.29 dividend. The ex-dividend date is Tuesday, February 16th. This represents a $5.16 annualized dividend and a yield of 5.21%. Chevron’s payout ratio is 82.30%.
In other news, CFO Pierre R. Breber sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 20th. The shares were sold at an average price of $95.00, for a total value of $1,235,000.00. Following the transaction, the chief financial officer now directly owns 13,686 shares in the company, valued at approximately $1,300,170. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 132,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $94.73, for a total transaction of $12,504,360.00. Following the completion of the transaction, the chief executive officer now owns 132,000 shares in the company, valued at $12,504,360. The disclosure for this sale can be found here. Insiders sold a total of 159,700 shares of company stock worth $15,133,067 over the last quarter. 0.28% of the stock is currently owned by company insiders.
A number of research firms have weighed in on CVX. Jefferies Financial Group cut shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 price objective for the company. in a report on Thursday, January 21st. Tudor Pickering cut shares of Chevron from a “buy” rating to a “hold” rating in a report on Monday, December 7th. Barclays lifted their price objective on shares of Chevron from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, January 14th. Piper Sandler raised shares of Chevron from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $108.00 to $113.00 in a research note on Friday, January 8th. Finally, Morgan Stanley cut their target price on shares of Chevron from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Monday, January 11th. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $104.62.
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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