Crumly & Associates Inc. Reduces Holdings in Chevron Co. (NYSE:CVX)

Crumly & Associates Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 11.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,295 shares of the oil and gas company’s stock after selling 409 shares during the period. Crumly & Associates Inc.’s holdings in Chevron were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Lane & Associates LLC boosted its position in shares of Chevron by 11.2% during the 4th quarter. Lane & Associates LLC now owns 2,831 shares of the oil and gas company’s stock worth $422,000 after purchasing an additional 285 shares during the period. PYA Waltman Capital LLC boosted its position in shares of Chevron by 2.1% during the 4th quarter. PYA Waltman Capital LLC now owns 15,527 shares of the oil and gas company’s stock worth $2,249,000 after purchasing an additional 316 shares during the period. Compass Capital Corp MA ADV purchased a new position in shares of Chevron during the 4th quarter worth approximately $341,000. WP Advisors LLC boosted its position in shares of Chevron by 0.8% during the 4th quarter. WP Advisors LLC now owns 17,433 shares of the oil and gas company’s stock worth $2,525,000 after purchasing an additional 139 shares during the period. Finally, Cordatus Wealth Management LLC boosted its position in shares of Chevron by 4.0% during the 4th quarter. Cordatus Wealth Management LLC now owns 19,647 shares of the oil and gas company’s stock worth $2,846,000 after purchasing an additional 763 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $158.89 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm’s fifty day simple moving average is $151.91 and its 200-day simple moving average is $150.91. The firm has a market capitalization of $285.53 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.44 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business earned $3.45 EPS. Equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were 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 in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

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.