Hartline Investment Corp Has $488,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Hartline Investment Corp cut its position in Chevron Co. (NYSE:CVX) by 2.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,271 shares of the oil and gas company’s stock after selling 90 shares during the quarter. Hartline Investment Corp’s holdings in Chevron were worth $488,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its position in shares of Chevron by 4.6% during the third quarter. Wedge Capital Management L L P NC now owns 3,088 shares of the oil and gas company’s stock worth $521,000 after acquiring an additional 135 shares in the last quarter. LMG Wealth Partners LLC increased its position in shares of Chevron by 2.8% during the third quarter. LMG Wealth Partners LLC now owns 57,913 shares of the oil and gas company’s stock worth $9,765,000 after acquiring an additional 1,562 shares in the last quarter. Enterprise Bank & Trust Co increased its position in shares of Chevron by 0.3% during the third quarter. Enterprise Bank & Trust Co now owns 23,609 shares of the oil and gas company’s stock worth $3,981,000 after acquiring an additional 75 shares in the last quarter. Leavell Investment Management Inc. increased its position in shares of Chevron by 1.0% during the third quarter. Leavell Investment Management Inc. now owns 70,395 shares of the oil and gas company’s stock worth $11,870,000 after acquiring an additional 717 shares in the last quarter. Finally, Moseley Investment Management Inc. increased its position in shares of Chevron by 3.1% during the third quarter. Moseley Investment Management Inc. now owns 9,382 shares of the oil and gas company’s stock worth $1,582,000 after acquiring an additional 281 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX traded up $0.72 during midday trading on Wednesday, reaching $163.57. The stock had a trading volume of 7,605,880 shares, compared to its average volume of 8,448,613. The firm has a 50 day simple moving average of $155.88 and a 200-day simple moving average of $151.66. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market cap of $303.79 billion, a PE ratio of 14.40, a P/E/G ratio of 2.38 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 posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.09 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders 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 3.99%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVX shares. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Raymond James raised their target price 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. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $184.75.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

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.