Barings LLC Sells 945 Shares of Chevron Co. (NYSE:CVX)

Barings LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 79,668 shares of the oil and gas company’s stock after selling 945 shares during the quarter. Barings LLC’s holdings in Chevron were worth $11,539,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CVX. Life Planning Partners Inc bought a new stake in shares of Chevron during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

Chevron stock opened at $156.48 on Friday. The company has a market capitalization of $275.51 billion, a PE ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08. The stock has a 50-day moving average price of $154.08 and a two-hundred day moving average price of $151.73. 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 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 net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm posted $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.79 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 paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. Chevron’s dividend payout ratio is presently 70.37%.

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.