Chevron Co. (NYSE:CVX) Stock Position Lowered by Stack Financial Management Inc

Stack Financial Management Inc reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 216,386 shares of the oil and gas company’s stock after selling 3,573 shares during the period. Chevron accounts for approximately 3.6% of Stack Financial Management Inc’s investment portfolio, making the stock its 6th largest holding. Stack Financial Management Inc’s holdings in Chevron were worth $32,276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sweet Financial Partners LLC raised its position in shares of Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its position in Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in shares of Chevron by 1.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after acquiring an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC lifted its position in shares of Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares in the last quarter. Finally, Rosenbaum Jay D. boosted its stake in shares of Chevron by 1.4% during the third quarter. Rosenbaum Jay D. now owns 5,160 shares of the oil and gas company’s stock valued at $870,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Truist Financial cut their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. 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 note on Thursday, April 4th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Chevron Trading Down 0.4 %

NYSE CVX traded down $0.58 during mid-day trading on Friday, hitting $164.70. The company’s stock had a trading volume of 4,370,161 shares, compared to its average volume of 8,410,664. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market capitalization of $305.89 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The stock’s fifty day simple moving average is $156.35 and its two-hundred day simple moving average is $151.84. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.06 by ($0.13). The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.55 earnings per share. Research analysts expect that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 3.96%. Chevron’s dividend payout ratio (DPR) is 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.