Chevron Co. (NYSE:CVX) is Stumpf Capital Management LLC’s 2nd Largest Position
Stumpf Capital Management LLC raised its position in Chevron Co. (NYSE:CVX) by 51.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,396 shares of the oil and gas company’s stock after acquiring an additional 68,810 shares during the quarter. Chevron makes up about 21.5% of Stumpf Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Stumpf Capital Management LLC’s holdings in Chevron were worth $25,126,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of CVX. Guidant Wealth Advisors raised its holdings in Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in Chevron during the second quarter worth approximately $34,000. Cordasco Financial Network raised its holdings in Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares in the last quarter. CKW Financial Group raised its holdings in Chevron by 154.0% during the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 251 shares in the last quarter. Finally, Next Capital Management LLC acquired a new stake in Chevron during the second quarter worth approximately $52,000. Institutional investors own 65.61% of the company’s stock.
Shares of Chevron stock traded up $0.72 during trading on Friday, reaching $124.38. The company’s stock had a trading volume of 334,627 shares, compared to its average volume of 5,330,008. The company has a 50-day moving average price of $119.22 and a two-hundred day moving average price of $121.38. The firm has a market cap of $235.20 billion, a PE ratio of 15.07, a P/E/G ratio of 3.11 and a beta of 1.01. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.19 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 3.83%. Chevron’s dividend payout ratio is currently 57.70%.
A number of analysts have weighed in on CVX shares. Independent Research set a $127.00 price objective on shares of Chevron and gave the stock a “neutral” rating in a report on Thursday, August 29th. ValuEngine cut shares of Chevron from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Cowen set a $140.00 target price on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 30th. Barclays assumed coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $136.22.
In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $125.00, for a total value of $4,218,750.00. Following the transaction, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at approximately $4,218,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Debra L. Reed acquired 4,250 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders sold a total of 86,750 shares of company stock worth $10,648,200 over the last three months. 0.31% of the stock is currently owned by corporate 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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