Cross Staff Investments Inc Sells 293 Shares of Chevron Co. (NYSE:CVX)

Cross Staff Investments Inc decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,914 shares of the oil and gas company’s stock after selling 293 shares during the quarter. Cross Staff Investments Inc’s holdings in Chevron were worth $712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth about $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 4.5 %

Shares of NYSE:CVX opened at $149.21 on Monday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market capitalization of $268.14 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. The company has a 50-day simple moving average of $153.19 and a 200 day simple moving average of $151.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 earnings per share. Sell-side analysts forecast that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 67.08%.

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.