Chevron Co. (NYSE:CVX) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,966 shares of the oil and gas company’s stock after selling 1,017 shares during the period. Chevron makes up 1.1% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 21st biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Chevron were worth $17,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVX. Whittier Trust Co. of Nevada Inc. grew its position in Chevron by 33.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 244,670 shares of the oil and gas company’s stock valued at $35,438,000 after acquiring an additional 61,112 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its stake in shares of Chevron by 2.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 27,540 shares of the oil and gas company’s stock valued at $3,989,000 after purchasing an additional 628 shares during the period. Holderness Investments Co. grew its holdings in Chevron by 1.1% during the 4th quarter. Holderness Investments Co. now owns 24,578 shares of the oil and gas company’s stock valued at $3,560,000 after purchasing an additional 264 shares in the last quarter. OLD Point Trust & Financial Services N A increased its stake in Chevron by 1.0% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 8,191 shares of the oil and gas company’s stock worth $1,186,000 after buying an additional 80 shares during the period. Finally, Symmetry Partners LLC lifted its holdings in Chevron by 6.6% in the 4th quarter. Symmetry Partners LLC now owns 1,771 shares of the oil and gas company’s stock worth $256,000 after buying an additional 109 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $164.80 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $156.07 and its 200 day moving average price is $152.40. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $290.14 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly 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 last year, the firm earned $3.45 EPS. As a group, sell-side analysts expect 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 was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.15%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock 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, Barclays cut their price target 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. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

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

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.