Chevron Co. (CVX) Shares Sold by Investment Centers of America Inc.
Investment Centers of America Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 11.6% during the third quarter, Holdings Channel reports. The institutional investor owned 38,436 shares of the oil and gas company’s stock after selling 5,045 shares during the period. Investment Centers of America Inc.’s holdings in Chevron were worth $4,541,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Valley National Advisers Inc. lifted its holdings in Chevron by 0.4% during the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC lifted its holdings in Chevron by 0.5% during the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 13 shares during the last quarter. Regis Management CO LLC lifted its holdings in Chevron by 0.4% during the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 14 shares during the last quarter. Keel Point LLC lifted its holdings in Chevron by 0.5% during the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 14 shares during the last quarter. Finally, FCG Advisors LLC lifted its holdings in Chevron by 0.4% during the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after purchasing an additional 15 shares during the last quarter. 63.72% of the stock is currently owned by institutional investors.
Chevron Co. (NYSE CVX) opened at $113.63 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market cap of $215,830.00, a P/E ratio of 30.06, a P/E/G ratio of 2.24 and a beta of 1.15. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.94%. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio is 114.29%.
CVX has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price objective on shares of Chevron and gave the company a “sell” rating in a report on Wednesday, December 20th. Wells Fargo & Co dropped their price objective on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Jefferies Group reaffirmed a “buy” rating and set a $137.00 price objective on shares of Chevron in a report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $130.30.
In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the completion of the transaction, the executive vice president now owns 110,771 shares in the company, valued at $12,868,267.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,878 shares of company stock worth $29,107,461. 0.38% of the stock is owned by company insiders.
Chevron Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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