Chevron Co. (CVX) is Whittier Trust Co.’s 3rd Largest Position
Whittier Trust Co. lifted its stake in Chevron Co. (NYSE:CVX) by 26.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 365,207 shares of the oil and gas company’s stock after buying an additional 76,796 shares during the period. Chevron makes up approximately 2.4% of Whittier Trust Co.’s holdings, making the stock its 3rd largest holding. Whittier Trust Co.’s holdings in Chevron were worth $47,678,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alleghany Corp DE bought a new stake in shares of Chevron in the fourth quarter worth about $430,653,000. Cornerstone Wealth Management LLC grew its stake in shares of Chevron by 12,404.4% in the second quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock worth $15,598,000 after purchasing an additional 1,922,552 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Chevron by 2,865.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,599,520 shares of the oil and gas company’s stock worth $200,242,000 after purchasing an additional 1,545,573 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Chevron in the fourth quarter worth about $172,635,000. Finally, Summit Trail Advisors LLC grew its stake in shares of Chevron by 9,968.8% in the first quarter. Summit Trail Advisors LLC now owns 1,145,531 shares of the oil and gas company’s stock worth $1,146,000 after purchasing an additional 1,134,154 shares during the last quarter. Hedge funds and other institutional investors own 64.78% of the company’s stock.
Chevron stock opened at $117.51 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. The company has a market cap of $224.92 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 2.07 and a beta of 1.07. Chevron Co. has a fifty-two week low of $108.02 and a fifty-two week high of $133.88.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.81%. Chevron’s payout ratio is 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total transaction of $551,000.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $551,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.
Several analysts recently issued reports on the company. HSBC raised Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Berenberg Bank assumed coverage on Chevron in a research note on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price on the stock. Bank of America cut Chevron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $150.00 to $135.00 in a research note on Thursday, September 6th. ValuEngine cut Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $141.00 target price on shares of Chevron in a research note on Tuesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $138.17.
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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