Northpointe Capital LLC raised its position in Chevron Co. (NYSE:CVX) by 53.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,730 shares of the oil and gas company’s stock after buying an additional 28,466 shares during the quarter. Chevron comprises about 1.4% of Northpointe Capital LLC’s portfolio, making the stock its 8th largest position. Northpointe Capital LLC’s holdings in Chevron were worth $10,333,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Live Your Vision LLC boosted its stake in shares of Chevron by 308.0% in the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 616 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $110,000. Earnest Partners LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $114,000. Virtue Capital Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $128,000. Finally, Litman Gregory Asset Management LLC boosted its stake in shares of Chevron by 566.9% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 975 shares in the last quarter. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CVX opened at $122.47 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. Chevron Co. has a one year low of $108.02 and a one year high of $133.88. The company has a market cap of $236.40 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06.
The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were issued a dividend of $1.12 per share. The ex-dividend date was Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.66%. Chevron’s payout ratio is 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the transaction, the insider now owns 4,750 shares in the company, valued at approximately $551,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.
CVX has been the topic of a number of research analyst reports. Wells Fargo & Co raised their price target on shares of Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, June 7th. Mizuho initiated coverage on shares of Chevron in a research note on Friday, June 8th. They issued a “buy” rating and a $145.00 price target on the stock. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target on the stock in a research note on Wednesday, June 13th. Raymond James upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. Finally, Royal Bank of Canada restated a “neutral” rating and issued a $145.00 price target on shares of Chevron in a research note on Monday, July 2nd. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $138.42.
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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