Gofen & Glossberg LLC IL Has $38.34 Million Position in Chevron Co. (CVX)
Gofen & Glossberg LLC IL lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 326,308 shares of the oil and gas company’s stock after selling 3,907 shares during the quarter. Chevron accounts for about 1.4% of Gofen & Glossberg LLC IL’s investment portfolio, making the stock its 18th largest holding. Gofen & Glossberg LLC IL’s holdings in Chevron were worth $38,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Beach Investment Management LLC. acquired a new stake in shares of Chevron in the 2nd quarter valued at $2,588,000. Pioneer Investment Management Inc. boosted its holdings in shares of Chevron by 6.7% in the 2nd quarter. Pioneer Investment Management Inc. now owns 180,020 shares of the oil and gas company’s stock valued at $18,782,000 after purchasing an additional 11,380 shares in the last quarter. Global X Management Co. LLC boosted its holdings in shares of Chevron by 13.0% in the 2nd quarter. Global X Management Co. LLC now owns 13,613 shares of the oil and gas company’s stock valued at $1,420,000 after purchasing an additional 1,567 shares in the last quarter. Legacy Capital Partners Inc. boosted its holdings in shares of Chevron by 10.0% in the 2nd quarter. Legacy Capital Partners Inc. now owns 23,978 shares of the oil and gas company’s stock valued at $2,502,000 after purchasing an additional 2,188 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Chevron in the 2nd quarter valued at $106,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.
Chevron Co. (NYSE:CVX) opened at $111.64 on Friday. The stock has a market capitalization of $213,260.66, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.23 and a beta of 1.19. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 92.37%.
A number of research analysts have recently commented on CVX shares. Vetr cut Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. HSBC cut Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Morgan Stanley increased their price target on Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Zacks Investment Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $130.00 price target (up from $123.00) on shares of Chevron in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $130.28.
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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