Haverford Financial Services Inc. Has $4.18 Million Holdings in Chevron Co. (NYSE:CVX)

Haverford Financial Services Inc. lessened its position in Chevron Co. (NYSE:CVX) by 49.0% in the fourth quarter, HoldingsChannel reports. The fund owned 28,861 shares of the oil and gas company’s stock after selling 27,709 shares during the quarter. Chevron makes up approximately 1.3% of Haverford Financial Services Inc.’s holdings, making the stock its 28th largest holding. Haverford Financial Services Inc.’s holdings in Chevron were worth $4,180,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at approximately $29,000. Fairway Wealth LLC lifted its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.2 %

CVX stock opened at $164.37 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business’s 50 day moving average price is $156.29 and its two-hundred day moving average price is $152.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $289.39 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

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 in the previous year, the company posted $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.16%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial dropped their price target on 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 dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.