Wendell David Associates Inc. Sells 360 Shares of Chevron Co. (NYSE:CVX)

Wendell David Associates Inc. lowered its position in shares of Chevron Co. (NYSE:CVXFree Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,801 shares of the oil and gas company’s stock after selling 360 shares during the period. Wendell David Associates Inc.’s holdings in Chevron were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CVX. Moneta Group Investment Advisors LLC increased its stake in shares of Chevron by 104,997.3% during the fourth 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. Norges Bank bought a new position in shares of Chevron during the fourth quarter worth approximately $3,058,235,000. Imprint Wealth LLC increased its stake in shares of Chevron by 15,457.0% during the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares during the period. Morgan Stanley increased its stake in shares of Chevron by 12.7% during the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Chevron by 570.0% during the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock worth $504,913,000 after purchasing an additional 2,393,200 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.8 %

NYSE CVX opened at $159.03 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a market cap of $295.36 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The business’s fifty day moving average is $152.23 and its 200 day moving average is $152.47.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the business posted $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Piper Sandler reduced their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Mizuho increased their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

View Our Latest Stock Analysis on CVX

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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