Chevron Co. (NYSE:CVX) Stake Decreased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its holdings in Chevron Co. (NYSE:CVX) by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,852 shares of the oil and gas company’s stock after selling 561 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Chevron were worth $268,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC acquired a new stake in Chevron in the fourth quarter worth about $1,483,000. NEOS Investment Management LLC lifted its stake in shares of Chevron by 31.3% in the 4th quarter. NEOS Investment Management LLC now owns 93,851 shares of the oil and gas company’s stock worth $13,593,000 after acquiring an additional 22,396 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of Chevron by 27.7% in the fourth quarter. UniSuper Management Pty Ltd now owns 96,356 shares of the oil and gas company’s stock valued at $13,956,000 after acquiring an additional 20,930 shares in the last quarter. Moment Partners LLC acquired a new position in shares of Chevron during the fourth quarter valued at approximately $1,169,000. Finally, Sava Infond d.o.o. acquired a new stake in Chevron in the fourth quarter worth approximately $2,662,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Down 0.4 %

NYSE:CVX opened at $166.06 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The firm has a market capitalization of $292.37 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $157.10 and its 200 day moving average price is $153.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 quarter in the previous year, the business earned $3.45 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVX shares. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.