Gamco Investors INC. ET AL Has $5.62 Million Holdings in Chevron Co. (CVX)
Gamco Investors INC. ET AL cut its stake in Chevron Co. (NYSE:CVX) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,452 shares of the oil and gas company’s stock after selling 1,200 shares during the period. Gamco Investors INC. ET AL’s holdings in Chevron were worth $5,620,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Live Your Vision LLC increased its holdings in shares of Chevron by 308.0% during the second 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 during the period. Point72 Asia Hong Kong Ltd boosted its stake in Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 1,243 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its stake in Chevron by 45.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 462 shares in the last quarter. First National Bank of Hutchinson bought a new position in Chevron during the second quarter valued at about $200,000. Finally, Mosaic Financial Partners Inc. bought a new position in Chevron during the second quarter valued at about $200,000. 64.89% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CVX opened at $117.57 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01. Chevron Co. has a 1-year low of $107.54 and a 1-year high of $133.88. The firm has a market capitalization of $221.84 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.02 and a beta of 1.12.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.81%. Chevron’s dividend payout ratio (DPR) is 121.08%.
In related news, insider James William Johnson sold 4,750 shares of the stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the transaction, the insider now owns 4,750 shares in the company, valued at approximately $569,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.
CVX has been the subject of several research reports. Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 target price on shares of Chevron in a research note on Tuesday, July 31st. ValuEngine cut Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Bank of America cut Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Berenberg Bank initiated coverage on Chevron in a research note on Tuesday, September 11th. They set a “hold” rating and a $135.00 target price for the company. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Chevron has an average rating of “Buy” and a consensus target price of $138.13.
Chevron Company Profile
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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