Chevron Co. (NYSE:CVX) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its stake in Chevron Co. (NYSE:CVX) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 175,731 shares of the oil and gas company’s stock after selling 2,947 shares during the quarter. Chevron makes up approximately 1.1% of Logan Capital Management Inc.’s investment portfolio, making the stock its 20th biggest position. Logan Capital Management Inc.’s holdings in Chevron were worth $25,453,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. TFB Advisors LLC raised its stake 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 purchasing an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its stake in shares of Chevron by 1.4% in the 4th 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 last quarter. Parkside Financial Bank & Trust increased its position in shares of 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 valued at $2,207,000 after acquiring an additional 66 shares during the last quarter. Meridian Financial Partners LLC lifted its stake in Chevron by 0.5% during the fourth 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 in the last quarter. Finally, Western Pacific Wealth Management LP boosted its position in shares of Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $138.52 on Monday. The firm’s 50-day simple moving average is $147.91 and its 200 day simple moving average is $152.07. The firm has a market capitalization of $243.88 billion, a PE ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.83. 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 Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the business earned $2.93 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Scotiabank cut 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 research report on Friday, April 11th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average price target of $161.25.

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.