Chevron Co. (NYSE:CVX) Stake Lessened by Foster & Motley Inc.

Foster & Motley Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,411 shares of the oil and gas company’s stock after selling 469 shares during the period. Foster & Motley Inc.’s holdings in Chevron were worth $3,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Quarry LP increased its stake in shares of Chevron by 172.2% in the second quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after buying an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Chevron by 75.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 138,885 shares of the oil and gas company’s stock valued at $21,724,000 after purchasing an additional 59,885 shares during the last quarter. Anchor Investment Management LLC increased its stake in Chevron by 12.1% during the second quarter. Anchor Investment Management LLC now owns 41,459 shares of the oil and gas company’s stock valued at $6,485,000 after purchasing an additional 4,478 shares during the last quarter. Centaurus Financial Inc. increased its stake in Chevron by 209.1% during the second quarter. Centaurus Financial Inc. now owns 32,190 shares of the oil and gas company’s stock valued at $5,035,000 after purchasing an additional 21,777 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new stake in Chevron during the second quarter valued at $3,976,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.19 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $280.68 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.37 and a beta of 1.12. The firm has a 50-day moving average of $153.56 and a two-hundred day moving average of $151.16.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVX shares. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.