Atria Investments LLC cut its stake in Chevron Co. (NYSE:CVX) by 40.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,571 shares of the oil and gas company’s stock after selling 18,767 shares during the quarter. Atria Investments LLC’s holdings in Chevron were worth $3,452,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Acrospire Investment Management LLC grew its position in Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. grew its position in Chevron by 59.1% during the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares in the last quarter. Ffcm LLC grew its position in Chevron by 121.1% during the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Chevron during the second quarter worth about $160,000. Finally, Intellectus Partners LLC grew its position in Chevron by 1.0% during the second quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock worth $162,000 after buying an additional 15 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.
Shares of Chevron Co. (NYSE:CVX) opened at $116.79 on Tuesday. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $223,100.00, a PE ratio of 30.90, a PEG ratio of 2.30 and a beta of 1.19.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is 118.52%.
Several research firms recently commented on CVX. Credit Suisse Group reduced their target price on Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, March 7th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $113.61 to $138.00 in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Vetr cut Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 target price for the company. in a research report on Monday, February 26th. Finally, BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $130.00.
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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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