Chevron Co. (NYSE:CVX) Shares Sold by Martin & Co. Inc. TN

Martin & Co. Inc. TN lessened its stake in Chevron Co. (NYSE:CVX) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,153 shares of the oil and gas company’s stock after selling 532 shares during the period. Martin & Co. Inc. TN’s holdings in Chevron were worth $1,760,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Life Planning Partners Inc acquired a new position in shares of Chevron in the fourth quarter worth $25,000. Rational Advisors LLC acquired a new position in shares of Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter worth $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

NYSE CVX opened at $155.32 on Monday. The stock has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a 50-day moving average price of $151.86 and a 200 day moving average price of $150.73. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business earned $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed 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.