Chevron Co. (NYSE:CVX) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 76.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,593 shares of the oil and gas company’s stock after selling 62,982 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Chevron were worth $2,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Allspring Global Investments Holdings LLC boosted its position in Chevron by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after acquiring an additional 27,483 shares during the last quarter. Plan Group Financial LLC lifted its stake in shares of Chevron by 25.8% during the 3rd quarter. Plan Group Financial LLC now owns 8,530 shares of the oil and gas company’s stock worth $1,256,000 after purchasing an additional 1,747 shares during the period. Meadow Creek Wealth Advisors LLC boosted its holdings in shares of Chevron by 8.1% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,632 shares of the oil and gas company’s stock worth $829,000 after purchasing an additional 424 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Chevron by 27.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 107,341 shares of the oil and gas company’s stock valued at $15,808,000 after purchasing an additional 23,136 shares during the period. Finally, Greenleaf Trust increased its stake in Chevron by 3.1% in the third quarter. Greenleaf Trust now owns 60,285 shares of the oil and gas company’s stock valued at $8,878,000 after purchasing an additional 1,830 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

CVX stock opened at $158.89 on Friday. The stock has a 50-day simple moving average of $151.91 and a 200-day simple moving average of $150.91. The firm has a market cap of $285.53 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business posted $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Analyst Ratings Changes

Several analysts have commented on CVX shares. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

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.