Hartline Investment Corp Lowers Position in Chevron Co. (NYSE:CVX)

Hartline Investment Corp trimmed its stake in Chevron Co. (NYSE:CVX) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,271 shares of the oil and gas company’s stock after selling 90 shares during the quarter. Hartline Investment Corp’s holdings in Chevron were worth $488,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley grew its holdings in Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Chevron by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after buying an additional 368,898 shares during the period. Northern Trust Corp grew its stake in Chevron by 2.6% during the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after buying an additional 569,850 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Chevron by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock worth $2,499,684,000 after buying an additional 62,254 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.4 %

NYSE:CVX traded up $0.72 during mid-day trading on Wednesday, reaching $163.57. The stock had a trading volume of 7,605,880 shares, compared to its average volume of 8,448,613. The company has a market capitalization of $303.79 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock’s 50 day simple moving average is $155.88 and its two-hundred day simple moving average is $151.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

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

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.99%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho boosted their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Truist Financial decreased their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $184.75.

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.