Trivium Point Advisory LLC acquired a new position in shares of 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 acquired 24,500 shares of the oil and gas company’s stock, valued at approximately $4,061,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the 1st quarter worth $25,000. Main Street Group LTD purchased a new position in Chevron during the first quarter worth about $28,000. Phillip James Consulting Co. acquired a new position in Chevron in the 4th quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $26,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
Chevron Price Performance
Shares of CVX opened at $199.99 on Monday. The company has a market cap of $395.13 billion, a P/E ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. 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’s 50 day moving average price is $183.30 and its 200 day moving average price is $187.01.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s dividend payout ratio (DPR) is 68.26%.
Insiders Place Their Bets
In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently commented on CVX shares. Barclays upped their price objective on Chevron from $213.00 to $216.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Dbs Bank upgraded Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Morgan Stanley cut their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Twenty equities research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.48.
View Our Latest Analysis on Chevron
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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