Chevron Co. (NYSE:CVX) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC lowered its stake in Chevron Co. (NYSE:CVX) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,531 shares of the oil and gas company’s stock after selling 440 shares during the period. Marietta Investment Partners LLC’s holdings in Chevron were worth $2,105,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. United Bank boosted its stake in Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of Chevron by 20.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,471 shares of the oil and gas company’s stock valued at $806,000 after purchasing an additional 920 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter valued at $30,000. Citizens Financial Group Inc. RI raised its holdings in Chevron by 10.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 55,736 shares of the oil and gas company’s stock worth $8,208,000 after acquiring an additional 5,242 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Chevron by 3.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,127 shares of the oil and gas company’s stock worth $64,228,000 after acquiring an additional 14,909 shares during the period. Institutional investors own 72.42% of the company’s stock.

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 value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was 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. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays dropped their price target 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 decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Down 0.2 %

Shares of CVX opened at $164.37 on Friday. The business’s 50-day moving average price is $156.29 and its 200-day moving average price is $152.51. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $289.39 billion, a PE ratio of 16.91, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the previous year, the business posted $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.16%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Chevron Company 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.