Hoey Investments Inc. Has $335,000 Holdings in Chevron Co. (NYSE:CVX)

Hoey Investments Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 53.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,312 shares of the oil and gas company’s stock after selling 2,686 shares during the period. Hoey Investments Inc.’s holdings in Chevron were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in Chevron in the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron during the fourth quarter worth $1,036,302,000. Bank of New York Mellon Corp boosted its position in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Amundi grew its stake in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. Finally, State Street Corp increased its position in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $166.06 on Monday. 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 company has a market cap of $292.37 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. The business’s 50 day moving average is $157.10 and its two-hundred day moving average is $153.60.

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. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. 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 yield of 4.12%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity at Chevron

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

Analyst Ratings Changes

CVX has been the subject of several research reports. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. 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. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, UBS Group cut 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. Four equities 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.com, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

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.