Wendell David Associates Inc. Sells 360 Shares of Chevron Co. (NYSE:CVX)

Wendell David Associates Inc. trimmed its stake in Chevron Co. (NYSE:CVXFree Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,801 shares of the oil and gas company’s stock after selling 360 shares during the period. Wendell David Associates Inc.’s holdings in Chevron were worth $1,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Covenant Asset Management LLC raised its stake in shares of Chevron by 2.6% in the 4th quarter. Covenant Asset Management LLC now owns 10,350 shares of the oil and gas company’s stock valued at $1,544,000 after acquiring an additional 267 shares in the last quarter. Secure Asset Management LLC increased its position in Chevron by 0.8% in the 4th quarter. Secure Asset Management LLC now owns 12,545 shares of the oil and gas company’s stock worth $1,871,000 after buying an additional 102 shares during the period. Montz Harcus Wealth Management LLC increased its position in Chevron by 5.7% in the 4th quarter. Montz Harcus Wealth Management LLC now owns 2,427 shares of the oil and gas company’s stock worth $362,000 after buying an additional 131 shares during the period. Deltec Asset Management LLC bought a new position in Chevron in the 4th quarter worth approximately $1,139,000. Finally, Bellecapital International Ltd. bought a new position in Chevron in the 4th quarter worth approximately $300,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $159.03 on Tuesday. The stock’s fifty day simple moving average is $152.23 and its 200 day simple moving average is $152.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market cap of $295.36 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.42 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $172.88.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.09 EPS. On average, analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron’s payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Mizuho lifted their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $180.39.

Read Our Latest Stock Report on Chevron

About Chevron

(Free Report)

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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