James Investment Research Inc. Cuts Stake in Chevron Co. (NYSE:CVX)

James Investment Research Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 48,449 shares of the oil and gas company’s stock after selling 520 shares during the quarter. James Investment Research Inc.’s holdings in Chevron were worth $7,017,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $31,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were 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 of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Trading Down 0.4 %

Shares of CVX opened at $155.32 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a 50 day simple moving average of $151.86 and a two-hundred day simple moving average of $150.86. The firm has a market cap of $279.12 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.45 EPS. On average, equities analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.