Weatherly Asset Management L. P. Has $3.48 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Weatherly Asset Management L. P. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,296 shares of the oil and gas company’s stock after selling 1,666 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Chevron were worth $3,475,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. Morgan Stanley increased its position in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Chevron during the third quarter worth about $348,789,000. Envestnet Asset Management Inc. increased its position in Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after acquiring an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System increased its position in Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after acquiring an additional 923,119 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Piper Sandler raised their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Trading Up 0.6 %

NYSE:CVX traded up $0.93 during mid-day trading on Tuesday, hitting $162.85. 5,533,624 shares of the company’s stock were exchanged, compared to its average volume of 8,459,302. The company has a 50 day simple moving average of $155.63 and a 200-day simple moving average of $151.66. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The firm has a market capitalization of $302.46 billion, a P/E ratio of 14.27, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period last year, the company earned $4.09 EPS. As a group, research analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.00%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.