Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Chevron Co. (NYSE:CVX) by 729.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 377,400 shares of the oil and gas company’s stock after purchasing an additional 331,900 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Chevron were worth $46,148,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Canton Hathaway LLC purchased a new position in shares of Chevron in the third quarter valued at about $141,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at about $144,000. O Brien Wealth Partners LLC lifted its position in shares of Chevron by 4,389.3% in the third quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 1,229 shares in the last quarter. Atlantic Trust LLC lifted its position in shares of Chevron by 54.7% in the second quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock valued at $186,000 after acquiring an additional 520 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Chevron in the third quarter valued at about $188,000. 64.75% of the stock is owned by institutional investors and hedge funds.
NYSE:CVX opened at $124.60 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $236.88 billion, a P/E ratio of 15.10, a PEG ratio of 3.75 and a beta of 1.03. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $131.08.
The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 15th were given a $1.19 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, February 14th. Chevron’s payout ratio is currently 57.70%.
In other Chevron news, insider Jeanette L. Ourada sold 7,200 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $116.50, for a total transaction of $838,800.00. Following the sale, the insider now directly owns 7,200 shares of the company’s stock, valued at $838,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $112.20, for a total value of $532,950.00. Following the sale, the insider now directly owns 4,750 shares in the company, valued at $532,950. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
Several equities analysts have recently commented on CVX shares. Raymond James set a $135.00 price objective on Chevron and gave the company a “buy” rating in a research report on Thursday, December 20th. Cowen restated an “outperform” rating and issued a $140.00 price objective (down from $160.00) on shares of Chevron in a research report on Thursday, February 28th. Royal Bank of Canada upgraded Chevron to a “sector perform” rating and set a $145.00 price objective on the stock in a research report on Wednesday, March 6th. Societe Generale lowered their price objective on Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $136.00 to $122.00 in a research report on Monday, January 14th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $134.18.
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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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