1,681 Shares in Chevron Co. (CVX) Purchased by Moon Capital Management LLC
Moon Capital Management LLC purchased a new stake in Chevron Co. (NYSE:CVX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,681 shares of the oil and gas company’s stock, valued at approximately $213,000.
Other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in shares of Chevron in the 1st quarter valued at $110,000. Earnest Partners LLC acquired a new position in shares of Chevron in the 4th quarter valued at $114,000. Virtue Capital Management LLC acquired a new position in shares of Chevron in the 4th quarter valued at $128,000. Litman Gregory Asset Management LLC raised its stake in shares of Chevron by 566.9% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 975 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its stake in shares of Chevron by 20,716.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 1,243 shares in the last quarter. 65.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron stock opened at $119.81 on Friday. The stock has a market cap of $229.67 billion, a P/E ratio of 22.03, a PEG ratio of 2.12 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron Co. has a 12-month low of $107.04 and a 12-month high of $133.88.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s dividend payout ratio (DPR) is currently 121.08%.
A number of equities analysts have recently issued reports on the stock. Goldman Sachs Group restated a “buy” rating and issued a $141.00 price objective on shares of Chevron in a research note on Tuesday, July 31st. Barclays increased their price objective on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a research note on Wednesday, June 13th. Mizuho assumed coverage on shares of Chevron in a research note on Friday, June 8th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Royal Bank of Canada restated a “neutral” rating and issued a $145.00 price objective on shares of Chevron in a research note on Monday, July 2nd. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $138.49.
In related news, EVP James William Johnson sold 4,750 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $126.96, for a total transaction of $603,060.00. Following the completion of the sale, the executive vice president now owns 4,750 shares in the company, valued at approximately $603,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.
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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