Chevron Co. (CVX) Holdings Lifted by Northpointe Capital LLC
Northpointe Capital LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 53.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,730 shares of the oil and gas company’s stock after purchasing an additional 28,466 shares during the quarter. Chevron comprises approximately 1.4% of Northpointe Capital LLC’s investment portfolio, making the stock its 8th largest position. Northpointe Capital LLC’s holdings in Chevron were worth $10,333,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CVX. HC Financial Advisors Inc. bought a new stake in shares of Chevron in the 4th quarter valued at $565,000. PARK CIRCLE Co bought a new stake in shares of Chevron in the 4th quarter valued at $1,690,000. 180 Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at $3,600,000. Corient Capital Partners LLC increased its stake in shares of Chevron by 12.5% in the 4th quarter. Corient Capital Partners LLC now owns 10,179 shares of the oil and gas company’s stock valued at $1,275,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Delpha Capital Management LLC bought a new stake in shares of Chevron in the 4th quarter valued at $196,000. Institutional investors own 64.77% of the company’s stock.
Shares of CVX stock opened at $122.47 on Friday. The firm has a market cap of $236.40 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron Co. has a 12 month low of $108.02 and a 12 month high of $133.88.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Thursday, August 16th. Chevron’s dividend payout ratio is 121.08%.
CVX has been the subject of several research analyst reports. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Goldman Sachs Group reiterated a “buy” rating and issued a $141.00 price objective on shares of Chevron in a research note on Tuesday, July 31st. Mizuho initiated 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. Credit Suisse Group set a $132.00 price objective on shares of Chevron and gave the company a “hold” rating in a research note on Sunday, July 1st. Finally, Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and a consensus target price of $138.42.
In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $551,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by insiders.
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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