Crossmark Global Holdings Inc. Sells 557 Shares of Chevron Co. (NYSE:CVX)

Crossmark Global Holdings Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,795 shares of the oil and gas company’s stock after selling 557 shares during the period. Crossmark Global Holdings Inc.’s holdings in Chevron were worth $10,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Royal Fund Management LLC boosted its position in shares of Chevron by 390.3% in the 4th quarter. Royal Fund Management LLC now owns 19,946 shares of the oil and gas company’s stock worth $2,890,000 after purchasing an additional 15,878 shares in the last quarter. Reliant Investment Management LLC raised its stake in Chevron by 7.9% in the fourth quarter. Reliant Investment Management LLC now owns 1,778 shares of the oil and gas company’s stock valued at $258,000 after buying an additional 130 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in Chevron by 4.8% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 13,380 shares of the oil and gas company’s stock worth $1,938,000 after acquiring an additional 617 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Chevron by 7.3% during the fourth quarter. Ballentine Partners LLC now owns 33,901 shares of the oil and gas company’s stock worth $4,910,000 after acquiring an additional 2,297 shares during the last quarter. Finally, Culbertson A N & Co. Inc. increased its holdings in shares of Chevron by 7.8% during the fourth quarter. Culbertson A N & Co. Inc. now owns 62,087 shares of the oil and gas company’s stock valued at $8,993,000 after acquiring an additional 4,475 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CVX. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Truist Financial boosted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Down 2.0 %

CVX stock opened at $158.16 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s fifty day moving average is $154.03 and its 200 day moving average is $151.04. The firm has a market cap of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.05 EPS. On average, research analysts forecast that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.