Raab & Moskowitz Asset Management LLC Sells 208 Shares of Chevron Co. (NYSE:CVX)

Raab & Moskowitz Asset Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 15,925 shares of the oil and gas company’s stock after selling 208 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Chevron were worth $2,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hidden Cove Wealth Management LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $270,000. Van ECK Associates Corp increased its holdings in shares of Chevron by 12.3% during the fourth quarter. Van ECK Associates Corp now owns 718,848 shares of the oil and gas company’s stock worth $104,118,000 after buying an additional 78,602 shares in the last quarter. Retirement Guys Formula LLC raised its stake in shares of Chevron by 2.1% in the fourth quarter. Retirement Guys Formula LLC now owns 5,729 shares of the oil and gas company’s stock valued at $830,000 after acquiring an additional 116 shares during the last quarter. Avion Wealth boosted its holdings in shares of Chevron by 13.1% in the 4th quarter. Avion Wealth now owns 4,088 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 474 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Chevron by 18.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company’s stock worth $38,712,000 after acquiring an additional 40,311 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.6 %

NYSE:CVX opened at $154.91 on Thursday. 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 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market capitalization of $278.39 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.39 and a beta of 1.11. The business’s 50-day moving average price is $151.99 and its two-hundred day moving average price is $150.81.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the company earned $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.