Thoroughbred Financial Services LLC Sells 1,941 Shares of Chevron Co. (NYSE:CVX)

Thoroughbred Financial Services LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,251 shares of the oil and gas company’s stock after selling 1,941 shares during the period. Thoroughbred Financial Services LLC’s holdings in Chevron were worth $6,409,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. 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 valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC raised its holdings in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its position in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after buying an additional 66 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its position in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Piper Sandler lowered their price objective 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. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $155.98 on Friday. 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 fifty-two week low of $135.37 and a fifty-two week high of $168.96. The firm has a market cap of $274.61 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a 50 day moving average price of $157.63 and a 200-day moving average price of $154.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period in the prior year, the business posted $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current 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 4.39%. 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 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.