United Asset Strategies Inc. Has $6.66 Million Stake in Chevron Co. (CVX)
United Asset Strategies Inc. lifted its position in Chevron Co. (NYSE:CVX) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,494 shares of the oil and gas company’s stock after buying an additional 2,810 shares during the quarter. Chevron comprises approximately 1.6% of United Asset Strategies Inc.’s holdings, making the stock its 16th largest position. United Asset Strategies Inc.’s holdings in Chevron were worth $6,664,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CVX. Telemus Capital LLC raised its stake in Chevron by 3.8% during the 3rd quarter. Telemus Capital LLC now owns 27,732 shares of the oil and gas company’s stock valued at $3,391,000 after purchasing an additional 1,025 shares during the last quarter. Captrust Financial Advisors raised its stake in Chevron by 21.2% during the 2nd quarter. Captrust Financial Advisors now owns 38,877 shares of the oil and gas company’s stock valued at $4,915,000 after purchasing an additional 6,788 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Chevron during the 3rd quarter valued at $144,000. Destination Wealth Management raised its stake in Chevron by 2.6% during the 3rd quarter. Destination Wealth Management now owns 232,908 shares of the oil and gas company’s stock valued at $28,480,000 after purchasing an additional 5,974 shares during the last quarter. Finally, Commerce Bank raised its stake in Chevron by 1.1% during the 3rd quarter. Commerce Bank now owns 1,048,058 shares of the oil and gas company’s stock valued at $128,157,000 after purchasing an additional 10,936 shares during the last quarter. Institutional investors and hedge funds own 64.62% of the company’s stock.
CVX opened at $117.58 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $131.08. The stock has a market capitalization of $225.91 billion, a PE ratio of 14.25, a PEG ratio of 4.05 and a beta of 1.02.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be issued a $1.19 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $4.76 annualized dividend and a dividend yield of 4.05%. Chevron’s dividend payout ratio is presently 54.30%.
In other news, EVP James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $120.92, for a total value of $574,370.00. Following the sale, the executive vice president now owns 4,750 shares of the company’s stock, valued at approximately $574,370. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeanette L. Ourada sold 7,200 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $116.50, for a total transaction of $838,800.00. Following the completion of the sale, the insider now directly owns 7,200 shares in the company, valued at approximately $838,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,200 shares of company stock worth $3,072,725. 0.46% of the stock is owned by insiders.
Several equities research analysts have issued reports on CVX shares. Credit Suisse Group set a $135.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 29th. UBS Group raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price target on the stock in a report on Friday, January 18th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the company from $136.00 to $122.00 in a report on Monday, January 14th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $130.00 price target on shares of Chevron in a report on Monday, January 7th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $133.20.
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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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