Interchange Capital Partners LLC Sells 705 Shares of Chevron Co. (NYSE:CVX)

Interchange Capital Partners LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,141 shares of the oil and gas company’s stock after selling 705 shares during the period. Interchange Capital Partners LLC’s holdings in Chevron were worth $742,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CVX. ICW Investment Advisors LLC raised its position in shares of Chevron by 16.8% in the 4th quarter. ICW Investment Advisors LLC now owns 14,997 shares of the oil and gas company’s stock worth $2,172,000 after purchasing an additional 2,159 shares during the last quarter. Jackson Thornton Wealth Management LLC purchased a new position in shares of Chevron in the 4th quarter worth about $230,000. Woodmont Investment Counsel LLC raised its position in shares of Chevron by 2.1% in the 4th quarter. Woodmont Investment Counsel LLC now owns 115,563 shares of the oil and gas company’s stock worth $16,738,000 after purchasing an additional 2,352 shares during the last quarter. Congress Wealth Management LLC DE raised its position in shares of Chevron by 0.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company’s stock worth $19,314,000 after purchasing an additional 785 shares during the last quarter. Finally, Clune & Associates LTD. purchased a new position in shares of Chevron in the 4th quarter worth about $367,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVX. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four investment 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.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other Chevron 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Down 0.2 %

Shares of NYSE:CVX opened at $164.37 on Monday. The stock has a 50 day moving average of $156.29 and a 200 day moving average of $152.64. The company has a market cap of $289.39 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 prior year, the company earned $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.16%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Chevron Company 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.