Chevron Co. (NYSE:CVX) Holdings Cut by Stack Financial Management Inc

Stack Financial Management Inc lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,386 shares of the oil and gas company’s stock after selling 3,573 shares during the period. Chevron accounts for about 3.6% of Stack Financial Management Inc’s investment portfolio, making the stock its 6th biggest holding. Stack Financial Management Inc’s holdings in Chevron were worth $32,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Picton Mahoney Asset Management bought a new position in Chevron in the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC purchased a new position in Chevron in the third quarter worth $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Wells Fargo & Company upped their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Price Performance

Chevron stock traded down $0.58 during trading on Friday, reaching $164.70. The company had a trading volume of 4,370,161 shares, compared to its average volume of 8,410,664. The firm has a market capitalization of $305.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The firm’s 50-day simple moving average is $156.35 and its 200 day simple moving average is $151.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.06 by ($0.13). Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 3.96%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

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.