Chevron Co. (NYSE:CVX) Shares Sold by Lbmc Investment Advisors LLC

Lbmc Investment Advisors LLC cut its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,627 shares of the oil and gas company’s stock after selling 213 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in Chevron were worth $1,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Worth Asset Management LLC purchased a new stake in shares of Chevron during the first quarter worth about $36,000. Hillsdale Investment Management Inc. grew its holdings in shares of Chevron by 127.3% during the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock worth $54,000 after buying an additional 210 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Chevron by 65.9% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 423 shares of the oil and gas company’s stock worth $61,000 after buying an additional 168 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its holdings in shares of Chevron by 275.0% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 600 shares of the oil and gas company’s stock worth $86,000 after buying an additional 440 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its holdings in shares of Chevron by 15.5% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 610 shares of the oil and gas company’s stock worth $88,000 after buying an additional 82 shares in the last quarter. 69.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Mizuho restated a “neutral” rating and issued a $206.00 target price on shares of Chevron in a report on Friday. Wells Fargo & Company lowered their target price on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Morgan Stanley lowered their target price on shares of Chevron from $197.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, January 30th. Piper Sandler lowered their target price on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Finally, Cowen lowered their target price on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $189.50.

Chevron Trading Down 1.3 %

NYSE CVX opened at $152.34 on Friday. The company’s fifty day simple moving average is $169.06 and its 200-day simple moving average is $169.44. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market cap of $290.46 billion, a P/E ratio of 8.33, a PEG ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last posted its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The firm had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 14.73 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a dividend of $1.51 per share. This is a boost from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s payout ratio is presently 33.04%.

Chevron announced that its board has initiated a stock repurchase plan on Wednesday, January 25th that authorizes the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 21.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Chevron

In related news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now directly owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.