Chevron Co. (NYSE:CVX) Stock Position Reduced by Ieq Capital LLC

Ieq Capital LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 7.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,600 shares of the oil and gas company’s stock after selling 7,880 shares during the period. Ieq Capital LLC’s holdings in Chevron were worth $13,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter worth approximately $25,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth approximately $31,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

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

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group decreased their price objective 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

NYSE:CVX opened at $157.14 on Thursday. The stock has a market cap of $282.39 billion, a P/E ratio of 16.17, a PEG ratio of 1.43 and a beta of 1.11. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a fifty day moving average price of $151.82 and a 200 day moving average price of $150.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.