Orion Portfolio Solutions LLC Has $20.24 Million Stake in Chevron Co. (NYSE:CVX)

Orion Portfolio Solutions LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 139,731 shares of the oil and gas company’s stock after selling 24,409 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Chevron were worth $20,239,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its position in Chevron by 1.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 995,798 shares of the oil and gas company’s stock valued at $144,231,000 after purchasing an additional 12,910 shares during the last quarter. Broadway Wealth Solutions Inc. purchased a new stake in shares of Chevron during the 4th quarter worth about $396,000. New Age Alpha Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $5,590,000. Providence Capital Advisors LLC grew its stake in shares of Chevron by 1.6% in the 4th quarter. Providence Capital Advisors LLC now owns 24,447 shares of the oil and gas company’s stock valued at $3,541,000 after buying an additional 375 shares in the last quarter. Finally, Weik Capital Management increased its holdings in Chevron by 1.2% in the fourth quarter. Weik Capital Management now owns 13,810 shares of the oil and gas company’s stock worth $2,000,000 after buying an additional 160 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.7 %

Shares of CVX stock opened at $166.73 on Friday. The company has a market capitalization of $293.54 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. 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 firm has a 50-day moving average price of $157.01 and a 200 day moving average price of $153.21.

Chevron (NYSE:CVX) last announced 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm posted $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.10%. 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 on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.