Klingman & Associates LLC Cuts Holdings in Chevron Co. (NYSE:CVX)

Klingman & Associates LLC lessened its stake in Chevron Co. (NYSE:CVX) by 27.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,453 shares of the oil and gas company’s stock after selling 1,648 shares during the period. Klingman & Associates LLC’s holdings in Chevron were worth $645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Chevron by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after purchasing an additional 27,483 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Chevron by 1.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 183,558 shares of the oil and gas company’s stock valued at $27,032,000 after purchasing an additional 2,671 shares in the last quarter. Plimoth Trust Co. LLC boosted its stake in shares of Chevron by 0.5% in the 3rd quarter. Plimoth Trust Co. LLC now owns 38,533 shares of the oil and gas company’s stock valued at $5,675,000 after purchasing an additional 199 shares in the last quarter. Community Financial Services Group LLC boosted its stake in shares of Chevron by 3.4% in the 3rd quarter. Community Financial Services Group LLC now owns 14,320 shares of the oil and gas company’s stock valued at $2,109,000 after purchasing an additional 473 shares in the last quarter. Finally, Waterway Wealth Management LLC boosted its stake in shares of Chevron by 5.3% in the 3rd quarter. Waterway Wealth Management LLC now owns 7,077 shares of the oil and gas company’s stock valued at $1,042,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James cut their price objective 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. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Up 0.6 %

Shares of NYSE CVX opened at $156.23 on Wednesday. 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 firm has a fifty day simple moving average of $151.80 and a two-hundred day simple moving average of $150.81. The firm has a market capitalization of $280.76 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. 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 (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 prior year, the business earned $3.45 earnings per share. Equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.38%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

About Chevron

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.