Norway Savings Bank boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% during the third quarter, Holdings Channel reports. The firm owned 21,709 shares of the oil and gas company’s stock after purchasing an additional 140 shares during the quarter. Norway Savings Bank’s holdings in Chevron were worth $2,203,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Sofos Investments Inc. raised its position in Chevron by 10,500.0% in the second quarter. Sofos Investments Inc. now owns 106 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 105 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Chevron in the second quarter worth approximately $30,000. Horan Securities Inc. raised its position in Chevron by 196.0% in the second quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 196 shares during the period. Newton One Investments LLC purchased a new stake in shares of Chevron in the second quarter worth $34,000. Finally, Capital Directions Investment Advisors LLC increased its stake in shares of Chevron by 66.7% in the second quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 65.55% of the company’s stock.
Shares of Chevron stock opened at $117.19 on Thursday. The firm’s 50 day moving average price is $109.21 and its 200-day moving average price is $104.90. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27. Chevron Co. has a 52-week low of $83.53 and a 52-week high of $118.08. The company has a market cap of $225.91 billion, a P/E ratio of 22.62, a PEG ratio of 2.42 and a beta of 1.30.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Thursday, November 18th will be given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Wednesday, November 17th. Chevron’s dividend payout ratio is presently 103.47%.
In other Chevron news, CEO Michael K. Wirth sold 26,250 shares of Chevron stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $118.01, for a total transaction of $3,097,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 52,500 shares of Chevron stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $113.79, for a total transaction of $5,973,975.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 325,651 shares of company stock worth $37,293,688. 0.29% of the stock is owned by insiders.
Several research firms recently weighed in on CVX. Mizuho reaffirmed a “buy” rating on shares of Chevron in a research note on Wednesday, November 3rd. Societe Generale began coverage on shares of Chevron in a research note on Friday, October 22nd. They issued a “buy” rating and a $130.00 price objective for the company. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research note on Wednesday, August 4th. Morgan Stanley lifted their price objective on shares of Chevron from $149.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Finally, Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $130.00 to $145.00 in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Buy” and a consensus target price of $121.23.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.
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