John G Ullman & Associates Inc. cut its stake in Chevron Co. (NYSE:CVX – Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,436 shares of the oil and gas company’s stock after selling 226 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Chevron were worth $932,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC increased its stake in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares during the last quarter. State Street Corp increased its stake in shares of 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 valued at $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. LPL Financial LLC increased its stake in shares of Chevron by 5.7% in the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock valued at $463,560,000 after acquiring an additional 171,089 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter valued at about $594,000. 72.42% of the stock is owned by institutional investors.
Insider Activity
In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.
Chevron Trading Up 1.2 %
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data 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 period last year, the company posted $3.45 earnings per share. As a group, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.
Chevron Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 70.37%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CVX shares. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.13.
Check Out Our Latest Analysis on Chevron
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.
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