Chevron Co. (NYSE:CVX) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors cut its stake in shares of Chevron Co. (NYSE:CVX) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 220,726 shares of the oil and gas company’s stock after selling 25,521 shares during the period. Chevron comprises approximately 1.6% of Davidson Investment Advisors’ portfolio, making the stock its 14th largest holding. Davidson Investment Advisors’ holdings in Chevron were worth $31,970,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter valued at $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $155.32 on Tuesday. The company has a market capitalization of $279.12 billion, a PE ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. The stock’s fifty day simple moving average is $151.86 and its 200 day simple moving average is $150.73. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company earned $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Chevron 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.