Glenview Trust Co increased its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,324 shares of the oil and gas company’s stock after buying an additional 2,755 shares during the quarter. Glenview Trust Co’s holdings in Chevron were worth $41,328,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth about $25,000. Main Street Group LTD bought a new position in shares of Chevron during the 1st quarter valued at about $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter valued at approximately $26,000. Kilter Group LLC acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $26,000. 72.42% of the stock is currently owned by institutional investors.
Chevron Stock Performance
Shares of CVX stock opened at $199.91 on Friday. The company’s fifty day simple moving average is $186.87 and its 200-day simple moving average is $188.76. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a market cap of $394.98 billion, a PE ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.
Insider Buying and Selling
In related news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last 90 days. 0.56% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Mizuho set a $224.00 target price on shares of Chevron in a report on Monday, August 3rd. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, July 2nd. 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. Bank of America boosted their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler assumed coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.
Read Our Latest Stock Report on CVX
About Chevron
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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