Stifel Financial Corp Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Stifel Financial Corp lessened its holdings in Chevron Co. (NYSE:CVX) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,895,858 shares of the oil and gas company’s stock after selling 16,958 shares during the period. Stifel Financial Corp’s holdings in Chevron were worth $419,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. TFB Advisors LLC boosted 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 valued at $411,000 after acquiring an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted 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 valued at $677,000 after purchasing an additional 66 shares during the period. Parkside Financial Bank & Trust boosted its holdings 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 worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Meridian Financial Partners LLC grew its position in Chevron by 0.5% in the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after purchasing an additional 67 shares during the period. Finally, Western Pacific Wealth Management LP raised its stake in Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.7 %

Shares of CVX stock opened at $137.68 on Monday. The stock has a fifty day simple moving average of $153.54 and a two-hundred day simple moving average of $153.45. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $242.39 billion, a PE ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. 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 released 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 firm posted $3.45 EPS. On average, analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Raymond James decreased their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale 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 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.