Vaughan Nelson Investment Management L.P. Sells 4,578 Shares of Chevron Co. (NYSE:CVX)

Vaughan Nelson Investment Management L.P. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 35.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,477 shares of the oil and gas company’s stock after selling 4,578 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Chevron were worth $1,264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley lifted its stake in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after purchasing an additional 368,898 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a research note on Tuesday, January 16th. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Finally, Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.63.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of Chevron stock opened at $161.60 on Monday. The stock has a 50 day moving average of $153.72 and a 200 day moving average of $152.24. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The firm has a market cap of $300.13 billion, a PE ratio of 14.23, a PEG ratio of 2.46 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the prior year, the company earned $4.09 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.13 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.03%. Chevron’s dividend payout ratio is presently 57.39%.

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.