Delta Asset Management LLC TN Sells 449 Shares of Chevron Co. (NYSE:CVX)

Delta Asset Management LLC TN decreased its stake in shares of Chevron Co. (NYSE:CVX) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 11,625 shares of the oil and gas company’s stock after selling 449 shares during the quarter. Delta Asset Management LLC TN’s holdings in Chevron were worth $1,684,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CVX. State Street Corp lifted its position in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Nicholas Company Inc. lifted its position in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after purchasing an additional 3,280 shares during the period. Dale Q Rice Investment Management Ltd acquired a new stake in Chevron during the fourth quarter worth $594,000. Unified Investment Management bought a new stake in Chevron in the 4th quarter valued at $729,000. Finally, ING Groep NV raised its stake in shares of Chevron by 3,942.6% in the 4th quarter. ING Groep NV now owns 200,998 shares of the oil and gas company’s stock valued at $29,113,000 after buying an additional 196,026 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

Shares of NYSE:CVX opened at $167.95 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The stock has a market capitalization of $295.69 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.46 and a beta of 1.08. The business has a 50-day moving average price of $156.87 and a two-hundred day moving average price of $153.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business earned $3.45 earnings per share. Equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s payout ratio is 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% 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.