Securian Asset Management Inc raised its holdings in Chevron Co. (NYSE:CVX) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,553 shares of the oil and gas company’s stock after buying an additional 2,074 shares during the period. Securian Asset Management Inc’s holdings in Chevron were worth $24,459,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CVX. Guidant Wealth Advisors increased its stake in shares of Chevron by 63.9% during the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in shares of Chevron during the 2nd quarter worth about $34,000. Cordasco Financial Network increased its stake in shares of Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Next Capital Management LLC acquired a new position in shares of Chevron during the 2nd quarter worth about $52,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of Chevron during the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 66.45% of the company’s stock.
Shares of CVX stock traded down $0.34 during midday trading on Friday, hitting $117.39. 442,155 shares of the company were exchanged, compared to its average volume of 6,296,626. The firm has a market capitalization of $220.46 billion, a P/E ratio of 14.23, a PEG ratio of 2.80 and a beta of 1.00. 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 firm’s 50 day moving average price is $122.30 and its two-hundred day moving average price is $121.40. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio is currently 57.70%.
CVX has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Chevron in a research note on Tuesday. They set an “outperform” rating and a $165.00 price objective on the stock. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley lowered their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Citigroup began coverage on shares of Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Barclays began coverage on shares of Chevron in a report on Monday. They set an “overweight” rating and a $145.00 target price for the company. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $136.78.
In other Chevron news, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the sale, the chairman now owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the completion of the sale, the insider now directly owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. Insiders sold a total of 51,750 shares of company stock valued at $6,448,700 in the last three months. Insiders own 0.31% of the company’s stock.
Chevron Company Profile
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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