Chevron Co. (NYSE:CVX) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. cut its stake in Chevron Co. (NYSE:CVX) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,216 shares of the oil and gas company’s stock after selling 1,635 shares during the quarter. Chevron makes up approximately 3.5% of Garland Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Garland Capital Management Inc.’s holdings in Chevron were worth $4,954,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. DHJJ Financial Advisors Ltd. acquired a new position in shares of Chevron during the 3rd quarter worth approximately $35,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $33,000. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron during the 1st quarter valued at approximately $36,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE CVX opened at $158.96 on Friday. The company has a market cap of $295.23 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a 50-day moving average of $154.92 and a two-hundred day moving average of $152.14. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.09 EPS. As a group, analysts anticipate that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Truist Financial decreased their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Wells Fargo & Company increased their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $183.60.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.