Chevron Co. (CVX) Position Boosted by Cohen & Steers Inc.
Cohen & Steers Inc. increased its holdings in Chevron Co. (NYSE:CVX) by 102.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,548 shares of the oil and gas company’s stock after buying an additional 72,234 shares during the quarter. Cohen & Steers Inc.’s holdings in Chevron were worth $17,431,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Garde Capital Inc. boosted its stake in Chevron by 1.7% during the 3rd quarter. Garde Capital Inc. now owns 11,983 shares of the oil and gas company’s stock valued at $1,401,000 after purchasing an additional 200 shares in the last quarter. Beaton Management Co. Inc. lifted its position in shares of Chevron by 0.8% during the 3rd quarter. Beaton Management Co. Inc. now owns 24,963 shares of the oil and gas company’s stock valued at $3,052,000 after acquiring an additional 200 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in shares of Chevron by 0.8% during the 3rd quarter. Plimoth Trust Co. LLC now owns 33,904 shares of the oil and gas company’s stock valued at $4,146,000 after acquiring an additional 255 shares during the last quarter. WealthPLAN Partners LLC lifted its position in shares of Chevron by 5.0% during the 3rd quarter. WealthPLAN Partners LLC now owns 7,589 shares of the oil and gas company’s stock valued at $881,000 after acquiring an additional 364 shares during the last quarter. Finally, EFG Asset Management Americas Corp. lifted its position in shares of Chevron by 1.2% during the 3rd quarter. EFG Asset Management Americas Corp. now owns 35,320 shares of the oil and gas company’s stock valued at $4,319,000 after acquiring an additional 418 shares during the last quarter. 64.75% of the stock is owned by institutional investors and hedge funds.
CVX opened at $124.60 on Friday. The firm has a market capitalization of $236.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $131.08. The company has a quick ratio of 1.04, a current ratio of 1.25 and a debt-to-equity ratio of 0.18.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 15th were issued a $1.19 dividend. The ex-dividend date was Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.82%. This is a positive change from Chevron’s previous quarterly dividend of $1.12. Chevron’s dividend payout ratio is presently 57.70%.
In other news, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the sale, the insider now owns 7,200 shares in the company, valued at $838,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James William Johnson sold 4,750 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $112.20, for a total value of $532,950.00. Following the sale, the insider now owns 4,750 shares of the company’s stock, valued at $532,950. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on CVX shares. Credit Suisse Group set a $138.00 price objective on Chevron and gave the company a “buy” rating in a research report on Saturday, December 8th. Tudor Pickering started coverage on Chevron in a research report on Friday, March 1st. They set a “buy” rating and a $133.00 price objective for the company. Cowen reiterated an “outperform” rating and set a $140.00 price objective (down previously from $160.00) on shares of Chevron in a research report on Thursday, February 28th. Societe Generale cut their price objective on Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Finally, Zacks Investment Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron presently has an average rating of “Buy” and a consensus price target of $134.18.
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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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