Coho Partners Ltd. Sells 86,889 Shares of Chevron Co. (NYSE:CVX)

Coho Partners Ltd. cut its holdings in Chevron Co. (NYSE:CVX) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 389,457 shares of the oil and gas company’s stock after selling 86,889 shares during the quarter. Chevron comprises 2.6% of Coho Partners Ltd.’s holdings, making the stock its 24th largest position. Coho Partners Ltd.’s holdings in Chevron were worth $56,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.00 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market capitalization of $280.35 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The firm’s 50 day moving average price is $151.92 and its 200-day moving average price is $150.84. 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 posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 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 in the previous 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Barclays cut 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Company 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.