Chevron Co. (NYSE:CVX) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 270,494 shares of the oil and gas company’s stock after selling 9,368 shares during the quarter. Financial Counselors Inc.’s holdings in Chevron were worth $39,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. UNIVEST FINANCIAL Corp lifted its stake in Chevron by 1.7% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 16,657 shares of the oil and gas company’s stock valued at $2,413,000 after buying an additional 274 shares during the last quarter. Morey & Quinn Wealth Partners LLC bought a new position in Chevron in the 4th quarter worth about $216,000. Trust Investment Advisors increased its stake in shares of Chevron by 3.1% in the fourth quarter. Trust Investment Advisors now owns 9,984 shares of the oil and gas company’s stock valued at $1,446,000 after purchasing an additional 302 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Chevron during the fourth quarter valued at approximately $66,000. Finally, Florida Financial Advisors LLC grew its holdings in Chevron by 9.6% in the 4th quarter. Florida Financial Advisors LLC now owns 5,024 shares of the oil and gas company’s stock worth $728,000 after buying an additional 441 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Performance

Shares of CVX opened at $165.93 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.82. The company has a 50-day moving average of $156.67 and a two-hundred day moving average of $153.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $292.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 company earned $3.45 EPS. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. Chevron’s dividend payout ratio is currently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by 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.