Litman Gregory Asset Management LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 30.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,577 shares of the oil and gas company’s stock after purchasing an additional 364 shares during the quarter. Litman Gregory Asset Management LLC’s holdings in Chevron were worth $196,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aperio Group LLC grew its stake in shares of Chevron by 2.6% during the second quarter. Aperio Group LLC now owns 1,071,494 shares of the oil and gas company’s stock valued at $133,337,000 after purchasing an additional 27,493 shares during the last quarter. Highstreet Asset Management Inc. grew its stake in shares of Chevron by 18.9% during the second quarter. Highstreet Asset Management Inc. now owns 27,865 shares of the oil and gas company’s stock valued at $3,468,000 after purchasing an additional 4,432 shares during the last quarter. AGF Investments LLC grew its stake in shares of Chevron by 1.2% during the second quarter. AGF Investments LLC now owns 22,603 shares of the oil and gas company’s stock valued at $2,813,000 after purchasing an additional 263 shares during the last quarter. Alley Co LLC grew its stake in shares of Chevron by 4.2% during the second quarter. Alley Co LLC now owns 56,465 shares of the oil and gas company’s stock valued at $7,027,000 after purchasing an additional 2,261 shares during the last quarter. Finally, River Wealth Advisors LLC grew its stake in shares of Chevron by 5.8% during the second quarter. River Wealth Advisors LLC now owns 32,193 shares of the oil and gas company’s stock valued at $4,006,000 after purchasing an additional 1,773 shares during the last quarter. 65.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CVX opened at $116.95 on Friday. The company’s 50 day simple moving average is $123.31 and its 200 day simple moving average is $121.51. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60. The firm has a market capitalization of $232.35 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.98 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.
Several research firms have recently commented on CVX. Morgan Stanley decreased their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Citigroup initiated coverage on shares of Chevron in a report on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective on the stock. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $135.41.
In other Chevron news, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the sale, the insider now directly owns 9,243 shares in the company, valued at $1,132,267.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now owns 33,750 shares in the company, valued at $4,239,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,850 shares of company stock worth $6,704,375. Company insiders own 0.31% of the company’s stock.
Chevron Company Profile
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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