Chevron Co. (NYSE:CVX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 894,450 shares of the oil and gas company’s stock after selling 35,054 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Chevron were worth $129,552,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wedge Capital Management L L P NC raised its stake in Chevron by 4.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock worth $425,000 after acquiring an additional 120 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its stake in Chevron by 1.9% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 21,121 shares of the oil and gas company’s stock worth $3,110,000 after acquiring an additional 401 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Chevron by 6.9% in the third quarter. Vontobel Holding Ltd. now owns 162,083 shares of the oil and gas company’s stock worth $23,870,000 after purchasing an additional 10,508 shares during the last quarter. Firethorn Wealth Partners LLC lifted its holdings in shares of Chevron by 2.1% during the third quarter. Firethorn Wealth Partners LLC now owns 4,120 shares of the oil and gas company’s stock worth $607,000 after purchasing an additional 85 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Chevron by 0.3% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 36,338 shares of the oil and gas company’s stock worth $5,351,000 after purchasing an additional 103 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.7 %

Shares of CVX opened at $156.00 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market capitalization of $280.35 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.11. The stock has a 50 day moving average price of $151.92 and a 200 day moving average price of $150.84.

Chevron (NYSE:CVX) last issued its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the firm earned $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVX shares. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company decreased 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

About Chevron

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.