Schear Investment Advisers LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Schear Investment Advisers LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 49.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,553 shares of the oil and gas company’s stock after selling 6,491 shares during the period. Schear Investment Advisers LLC’s holdings in Chevron were worth $949,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in Chevron during the 3rd quarter valued at $182,000. Wedge Capital Management L L P NC lifted its stake in shares of Chevron by 4.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 120 shares during the period. CX Institutional boosted its stake in shares of Chevron by 97.0% during the 3rd quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock worth $6,801,000 after acquiring an additional 22,735 shares during the last quarter. Wesbanco Bank Inc. increased its position in Chevron by 1.8% in the third quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock worth $33,671,000 after buying an additional 4,004 shares in the last quarter. Finally, Iams Wealth Management LLC raised its stake in Chevron by 10.5% during the 3rd quarter. Iams Wealth Management LLC now owns 13,294 shares of the oil and gas company’s stock worth $1,958,000 after acquiring an additional 1,258 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $157.43 on Wednesday. The business’s 50-day moving average is $152.08 and its two-hundred day moving average is $150.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $282.91 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 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 period in the previous year, the company posted $3.45 earnings per share. Analysts anticipate 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. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.34%. Chevron’s dividend payout ratio is 67.08%.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVX. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Barclays reduced their price target 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. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.