Shell Asset Management Co. Sells 497 Shares of Chevron Co. (NYSE:CVX)

Shell Asset Management Co. reduced its holdings in Chevron Co. (NYSE:CVX) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,764 shares of the oil and gas company’s stock after selling 497 shares during the quarter. Shell Asset Management Co.’s holdings in Chevron were worth $6,339,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TFB Advisors LLC raised its stake in shares of Chevron by 2.4% in 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 period. W.H. Cornerstone Investments Inc. raised 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 acquiring an additional 66 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Chevron by 0.4% in the 4th 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 period. Meridian Financial Partners LLC raised its stake in shares of 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 valued at $1,943,000 after acquiring an additional 67 shares during the period. Finally, Western Pacific Wealth Management LP raised its stake in shares of Chevron by 14.9% in 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 acquiring an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and cut their target price for the stock from $176.00 to $158.00 in a research note on Tuesday. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Raymond James lowered 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

Chevron stock opened at $142.14 on Friday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a fifty day moving average of $146.89 and a 200-day moving average of $151.81. The firm has a market capitalization of $248.23 billion, a P/E ratio of 14.62, a PEG 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 (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.