Longfellow Investment Management Co. LLC bought a new position in Chevron Corporation (NYSE:CVX – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,916 shares of the oil and gas company’s stock, valued at approximately $1,312,000.
A number of other large investors have also recently made changes to their positions in CVX. Cornerstone Advisory LLC increased its stake in Chevron by 0.9% in the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 52 shares during the period. Compton Financial Group LLC boosted its position in Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after buying an additional 56 shares during the period. Quantum Portfolio Management LLC boosted its position in Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 56 shares during the period. Wealthspire Retirement LLC grew its stake in Chevron by 0.9% in the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock worth $1,351,000 after acquiring an additional 56 shares in the last quarter. Finally, D.B. Root & Company LLC increased its position in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 57 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.
Chevron Price Performance
Shares of CVX opened at $199.99 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a 50 day moving average price of $183.30 and a 200-day moving average price of $187.01. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market capitalization of $395.13 billion, a PE ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.
Insider Buying and Selling at Chevron
In other Chevron news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the transaction, the director owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. Corporate insiders own 0.56% of the company’s stock.
Analyst Upgrades and Downgrades
CVX has been the subject of several research analyst reports. UBS Group reiterated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Scotiabank lifted their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Morgan Stanley lowered their target price on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Finally, TD Cowen increased their price target on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.
View Our Latest Stock Analysis on CVX
Chevron Profile
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
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