Parkside Financial Bank & Trust grew its stake in shares of Chevron Co. (NYSE:CVX) by 10.3% in the 4th quarter, Holdings Channel reports. The firm owned 7,848 shares of the oil and gas company’s stock after acquiring an additional 735 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Chevron were worth $853,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hedeker Wealth LLC lifted its stake in Chevron by 0.7% in the 4th quarter. Hedeker Wealth LLC now owns 18,961 shares of the oil and gas company’s stock worth $2,062,000 after acquiring an additional 134 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in Chevron by 0.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,033,875 shares of the oil and gas company’s stock worth $112,475,000 after acquiring an additional 6,695 shares in the last quarter. Commerce Bank lifted its stake in Chevron by 1.1% in the 3rd quarter. Commerce Bank now owns 1,048,058 shares of the oil and gas company’s stock worth $128,157,000 after acquiring an additional 10,936 shares in the last quarter. Independent Investors Inc. lifted its stake in Chevron by 35.2% in the 4th quarter. Independent Investors Inc. now owns 7,300 shares of the oil and gas company’s stock worth $794,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Chevron by 320.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock worth $349,120,000 after acquiring an additional 2,175,800 shares in the last quarter. 65.90% of the stock is owned by institutional investors and hedge funds.
Shares of CVX stock opened at $120.80 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $130.39. The stock has a market capitalization of $232.64 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 2.61 and a beta of 1.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.94%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is currently 57.70%.
Several equities research analysts recently issued reports on CVX shares. UBS Group raised Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price objective for the company in a research note on Friday, January 18th. Credit Suisse Group reissued a “buy” rating and issued a $130.00 price objective on shares of Chevron in a research note on Wednesday, January 23rd. Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Cowen reissued an “outperform” rating and issued a $140.00 price objective (down from $160.00) on shares of Chevron in a research note on Thursday, February 28th. Finally, Tudor Pickering started coverage on Chevron in a research note on Friday, March 1st. They issued a “buy” rating and a $133.00 price objective for the company. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and an average price target of $135.42.
In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $124.84, for a total value of $592,990.00. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $592,990. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.
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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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