Main Street Research LLC Has $1.59 Million Stock Position in Chevron Co. (NYSE:CVX)

Main Street Research LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,941 shares of the oil and gas company’s stock after selling 268 shares during the quarter. Main Street Research LLC’s holdings in Chevron were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Pettinga Financial Advisors LLC boosted its holdings in shares of Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after buying an additional 272 shares during the period. Summit Global Investments boosted its holdings in Chevron by 26.1% during the third quarter. Summit Global Investments now owns 5,784 shares of the oil and gas company’s stock valued at $852,000 after acquiring an additional 1,197 shares during the period. United Bank boosted its holdings in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the period. Rovin Capital UT ADV increased its stake in shares of Chevron by 17.1% in the third quarter. Rovin Capital UT ADV now owns 2,162 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 315 shares during the period. Finally, Field & Main Bank increased its stake in shares of Chevron by 1.0% in the third quarter. Field & Main Bank now owns 18,871 shares of the oil and gas company’s stock worth $2,779,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 2.3 %

Shares of Chevron stock opened at $156.48 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $275.51 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a 50-day simple moving average of $154.08 and a 200 day simple moving average of $151.78. 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 earnings per share 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 business posted $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.