Chevron Co. (NYSE:CVX) Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. trimmed its holdings in Chevron Co. (NYSE:CVX) by 24.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 136,330 shares of the oil and gas company’s stock after selling 44,070 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Chevron were worth $19,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

Chevron Stock Up 2.5 %

Shares of NYSE:CVX opened at $153.14 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 $275.20 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.29 and a beta of 1.11. The firm has a fifty day moving average price of $152.97 and a 200 day moving average price of $150.93.

Chevron (NYSE:CVX) last issued its quarterly 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 period last year, the firm posted $3.45 earnings per share. Sell-side analysts predict that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

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.