Chevron Co. (NYSE:CVX) Shares Sold by Sfmg LLC

Sfmg LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 19,367 shares of the oil and gas company’s stock after selling 442 shares during the quarter. Sfmg LLC’s holdings in Chevron were worth $2,889,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Windsor Advisory Group LLC grew its holdings in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Renaissance Investment Group LLC grew its stake in shares of Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 697 shares in the last quarter. Altrius Capital Management Inc increased its holdings in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in Chevron in the fourth quarter valued at $254,000. Finally, Strategic Financial Concepts LLC raised its stake in Chevron by 9.0% in the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock traded down $1.31 during trading hours on Wednesday, reaching $156.28. 5,541,895 shares of the stock were exchanged, compared to its average volume of 7,275,755. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.54. The stock has a market cap of $290.25 billion, a P/E ratio of 13.76, a P/E/G ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm’s 50 day moving average is $155.11 and its 200 day moving average is $151.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the business posted $4.09 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. Analysts predict that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.55.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.