Chevron Co. (NYSE:CVX) Holdings Decreased by SFE Investment Counsel

SFE Investment Counsel reduced its holdings in Chevron Co. (NYSE:CVX) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,980 shares of the oil and gas company’s stock after selling 535 shares during the period. SFE Investment Counsel’s holdings in Chevron were worth $2,459,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.6 %

Shares of CVX opened at $154.91 on Thursday. The stock’s 50-day moving average price is $151.92 and its 200 day moving average price is $150.84. 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 market capitalization of $278.39 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm earned $3.45 EPS. As a group, research analysts predict that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is 67.08%.

Insiders Place Their Bets

In other Chevron 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 value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, 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 at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.