Regal Investment Advisors LLC Grows Holdings in Chevron Co. (CVX)
Regal Investment Advisors LLC raised its stake in Chevron Co. (NYSE:CVX) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,325 shares of the oil and gas company’s stock after purchasing an additional 520 shares during the quarter. Regal Investment Advisors LLC’s holdings in Chevron were worth $1,096,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. acquired a new position in Chevron in the 2nd quarter valued at approximately $106,000. Winfield Associates Inc. increased its stake in Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares during the period. Acrospire Investment Management LLC increased its stake in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 800 shares during the period. Accurate Investment Solutions Inc. increased its stake in shares of Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the last quarter. Finally, Ffcm LLC increased its stake in shares of Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 822 shares during the last quarter. Hedge funds and other institutional investors own 63.98% of the company’s stock.
Shares of Chevron Co. (NYSE CVX) opened at $118.58 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The stock has a market cap of $238,504.38, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.43 and a beta of 1.15. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio is currently 125.95%.
In other Chevron news, CFO Patricia E. Yarrington sold 116,857 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the sale, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,500 shares of company stock valued at $33,480,822. 0.38% of the stock is owned by insiders.
Several brokerages have recently commented on CVX. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target on the stock. in a research note on Thursday, January 11th. Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Friday. Credit Suisse Group began coverage on shares of Chevron in a research note on Monday, December 11th. They set a “neutral” rating and a $123.00 price target on the stock. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Finally, Jefferies Group restated a “buy” rating and set a $137.00 price target (up previously from $113.54) on shares of Chevron in a research note on Monday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Chevron currently has a consensus rating of “Hold” and an average price target of $128.89.
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Chevron Company Profile
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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