Wilkinson Global Asset Management LLC Has $955,000 Holdings in Chevron Co. (NYSE:CVX)

Wilkinson Global Asset Management LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 60.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,593 shares of the oil and gas company’s stock after selling 10,190 shares during the period. Wilkinson Global Asset Management LLC’s holdings in Chevron were worth $955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the 3rd quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter worth approximately $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $156.23 on Wednesday. The stock has a 50 day simple moving average of $151.80 and a 200 day simple moving average of $150.81. The stock has a market cap of $280.76 billion, a P/E ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted $3.45 EPS. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.38%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Wells Fargo & Company lowered their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial reduced their price objective 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. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% 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.