Klingman & Associates LLC Sells 1,648 Shares of Chevron Co. (NYSE:CVX)

Klingman & Associates LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 27.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,453 shares of the oil and gas company’s stock after selling 1,648 shares during the period. Klingman & Associates LLC’s holdings in Chevron were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Prossimo Advisors LLC raised its stake in Chevron by 1.3% during the fourth quarter. Prossimo Advisors LLC now owns 5,556 shares of the oil and gas company’s stock worth $805,000 after buying an additional 73 shares during the last quarter. Callahan Advisors LLC increased its stake in Chevron by 1.9% in the fourth quarter. Callahan Advisors LLC now owns 109,706 shares of the oil and gas company’s stock valued at $15,890,000 after purchasing an additional 2,078 shares in the last quarter. Schubert & Co increased its stake in Chevron by 3.7% in the fourth quarter. Schubert & Co now owns 2,800 shares of the oil and gas company’s stock valued at $406,000 after purchasing an additional 100 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Chevron by 35.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 68,105 shares of the oil and gas company’s stock valued at $9,864,000 after purchasing an additional 17,746 shares in the last quarter. Finally, Ramsay Stattman Vela & Price Inc. increased its stake in Chevron by 6.8% in the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 35,614 shares of the oil and gas company’s stock valued at $5,158,000 after purchasing an additional 2,261 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $156.23 on Wednesday. The company’s 50 day moving average is $151.80 and its 200-day moving average is $150.81. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $280.76 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the business posted $3.45 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays reduced their price objective on shares of 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 reduced their price objective on shares of 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron 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.