Norway Savings Bank increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,709 shares of the oil and gas company’s stock after purchasing an additional 140 shares during the period. Norway Savings Bank’s holdings in Chevron were worth $2,203,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Sofos Investments Inc. lifted its holdings in Chevron by 10,500.0% during the second quarter. Sofos Investments Inc. now owns 106 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 105 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Chevron during the second quarter worth about $30,000. Horan Securities Inc. lifted its holdings in shares of Chevron by 196.0% in the second quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. Newton One Investments LLC bought a new stake in shares of Chevron in the second quarter valued at about $34,000. Finally, Capital Directions Investment Advisors LLC lifted its holdings in shares of Chevron by 66.7% in the second quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 150 shares in the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.
Shares of CVX stock opened at $117.19 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The stock has a market cap of $225.91 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30. The stock has a 50 day simple moving average of $109.21 and a 200 day simple moving average of $104.90. Chevron Co. has a 1 year low of $83.53 and a 1 year high of $118.08.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Thursday, November 18th will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 4.57%. The ex-dividend date is Wednesday, November 17th. Chevron’s payout ratio is presently 103.47%.
In related news, CEO Michael K. Wirth sold 52,500 shares of the stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $113.79, for a total value of $5,973,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 26,250 shares of the stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $118.01, for a total value of $3,097,762.50. The disclosure for this sale can be found here. Insiders have sold 325,651 shares of company stock valued at $37,293,688 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.
A number of analysts have recently commented on CVX shares. TheStreet upgraded Chevron from a “c” rating to a “b-” rating in a report on Friday, July 30th. JPMorgan Chase & Co. lowered Chevron from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $128.00 to $111.00 in a report on Wednesday, September 15th. Morgan Stanley upped their target price on Chevron from $149.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Mizuho reiterated a “buy” rating on shares of Chevron in a report on Wednesday, November 3rd. Finally, Truist Securities boosted their price target on Chevron from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $121.23.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.
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