Weatherly Asset Management L. P. Lowers Stock Position in Chevron Co. (NYSE:CVX)

Weatherly Asset Management L. P. cut its stake in shares of Chevron Co. (NYSE:CVX) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,296 shares of the oil and gas company’s stock after selling 1,666 shares during the period. Weatherly Asset Management L. P.’s holdings in Chevron were worth $3,475,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in Chevron during the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at about $33,000. Legacy Financial Group LLC purchased a new position in Chevron in the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc boosted its position in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX traded up $0.93 during mid-day trading on Tuesday, reaching $162.85. 5,533,624 shares of the company’s stock traded hands, compared to its average volume of 8,459,302. The business’s 50-day moving average price is $155.63 and its 200-day moving average price is $151.66. The stock has a market capitalization of $302.46 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.09 earnings per share. Equities analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.00%. 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. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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 report on Tuesday, February 6th. Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company upped their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada upped their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Chevron Company 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.