Fidelity National Financial Inc. Sells 2,000 Shares of Chevron Co. (NYSE:CVX)

Fidelity National Financial Inc. reduced its position in Chevron Co. (NYSE:CVX) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,000 shares of the oil and gas company’s stock after selling 2,000 shares during the period. Chevron makes up about 0.5% of Fidelity National Financial Inc.’s holdings, making the stock its 8th biggest holding. Fidelity National Financial Inc.’s holdings in Chevron were worth $24,623,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC lifted its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth approximately $39,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $45,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 1.7 %

Shares of CVX stock opened at $137.68 on Friday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $242.39 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The stock has a fifty day moving average of $153.54 and a two-hundred day moving average of $153.42. 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 (NYSE:CVX) last posted 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 last year, the company posted $3.45 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

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.