James Investment Research Inc. Reduces Holdings in Chevron Co. (NYSE:CVX)

James Investment Research Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,449 shares of the oil and gas company’s stock after selling 520 shares during the quarter. James Investment Research Inc.’s holdings in Chevron were worth $7,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall Financial Group LLC bought a new stake in shares of Chevron during the third quarter worth $202,000. AlphaMark Advisors LLC lifted its position in shares of Chevron by 19.6% during the third quarter. AlphaMark Advisors LLC now owns 1,233 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 202 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Chevron by 0.4% during the third quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after purchasing an additional 261 shares during the last quarter. Stratos Investment Management LLC lifted its position in shares of Chevron by 15.4% during the third quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock worth $4,910,000 after purchasing an additional 4,443 shares during the last quarter. Finally, Precedent Wealth Partners LLC lifted its position in shares of Chevron by 9.5% during the third quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock worth $1,601,000 after purchasing an additional 945 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $155.32 on Friday. 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 capitalization of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. 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 stock’s 50-day simple moving average is $151.86 and its 200-day simple moving average is $150.86.

Chevron (NYSE:CVX) last issued 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 in the previous year, the business posted $3.45 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s payout ratio is presently 67.08%.

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.