First Business Financial Services Inc. lessened its position in Chevron Co. (NYSE:CVX) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,765 shares of the oil and gas company’s stock after selling 96 shares during the period. First Business Financial Services Inc.’s holdings in Chevron were worth $921,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Chevron by 1.0% during the second quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock worth $19,600,995,000 after acquiring an additional 1,572,940 shares in the last quarter. BlackRock Inc. raised its holdings in Chevron by 3.5% in the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after buying an additional 4,401,622 shares during the last quarter. Northern Trust Corp raised its holdings in Chevron by 2.8% in the second quarter. Northern Trust Corp now owns 28,068,068 shares of the oil and gas company’s stock worth $3,492,791,000 after buying an additional 769,941 shares during the last quarter. Morgan Stanley raised its holdings in Chevron by 7.9% in the second quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock worth $2,023,732,000 after buying an additional 1,184,133 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Chevron by 2,073.6% in the second quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock worth $1,852,443,000 after buying an additional 14,201,379 shares during the last quarter. 65.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVX traded down $0.96 during mid-day trading on Friday, hitting $120.93. 4,176,056 shares of the company traded hands, compared to its average volume of 6,442,372. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. The stock has a 50-day moving average price of $117.65 and a two-hundred day moving average price of $119.96. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.34. The stock has a market cap of $231.49 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 3.25 and a beta of 0.99.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.94%. Chevron’s dividend payout ratio (DPR) is 57.70%.
Several brokerages have issued reports on CVX. Morgan Stanley decreased their target price on shares of Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, November 4th. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen decreased their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Barclays started coverage on shares of Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 price objective for the company. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $135.88.
In related news, EVP Joseph C. Geagea sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $116.98, for a total transaction of $1,754,700.00. Following the completion of the sale, the executive vice president now directly owns 6,243 shares in the company, valued at $730,306.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the sale, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The disclosure for this sale can be found here. Insiders have sold 91,750 shares of company stock valued at $11,216,850 over the last 90 days. 0.31% of the stock is currently owned by company 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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