Wealthcare Advisory Partners LLC Purchases New Position in Chevron Co. (CVX)
Wealthcare Advisory Partners LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,702 shares of the oil and gas company’s stock, valued at approximately $1,492,000.
Several other institutional investors have also recently added to or reduced their stakes in CVX. Vanguard Group Inc. lifted its holdings in shares of Chevron by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares during the period. BlackRock Inc. lifted its holdings in shares of Chevron by 1.6% during the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after acquiring an additional 1,975,865 shares during the period. Capital World Investors lifted its holdings in shares of Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Northern Trust Corp lifted its holdings in shares of Chevron by 0.6% during the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after acquiring an additional 157,021 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Chevron by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after acquiring an additional 49,083 shares during the period. 64.10% of the stock is currently owned by institutional investors.
Shares of Chevron Co. (CVX) opened at $111.64 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88. The stock has a market cap of $214,024.75, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a $1.12 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 annualized dividend and a yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 92.37%.
Several brokerages have recently weighed in on CVX. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.61 to $138.00 in a report on Wednesday. They noted that the move was a valuation call. Vetr lowered shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price objective on the stock. in a report on Monday, February 26th. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating in a report on Friday, February 23rd. Royal Bank of Canada upgraded shares of Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price objective on the stock in a report on Friday, February 9th. Finally, Barclays upgraded shares of Chevron from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $130.28.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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