Chevron Co. (NYSE:CVX) Stock Position Cut by Miramar Capital LLC

Miramar Capital LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 112,396 shares of the oil and gas company’s stock after selling 3,093 shares during the period. Chevron comprises about 3.9% of Miramar Capital LLC’s holdings, making the stock its 9th biggest holding. Miramar Capital LLC’s holdings in Chevron were worth $16,279,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Tacita Capital Inc raised its position in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the period. Wallace Capital Management Inc. raised its position in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 65 shares during the period. TFB Advisors LLC raised its position in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. raised its position in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after acquiring an additional 66 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after acquiring an additional 66 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Barclays reduced their price objective 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. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial reduced their target price 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. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group reduced their target price 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 stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 2.3 %

Shares of Chevron stock opened at $156.48 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a 50 day moving average of $154.08 and a 200 day moving average of $151.73. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $275.51 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 in the previous year, the company posted $3.45 EPS. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.37%. Chevron’s dividend payout ratio is 70.37%.

Chevron Profile

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.