DT Investment Partners LLC Sells 3,885 Shares of Chevron Co. (NYSE:CVX)

DT Investment Partners LLC cut its holdings in Chevron Co. (NYSE:CVX) by 18.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,693 shares of the oil and gas company’s stock after selling 3,885 shares during the quarter. DT Investment Partners LLC’s holdings in Chevron were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Tacita Capital Inc grew its stake in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. grew its stake in shares of Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the last quarter. TFB Advisors LLC grew its stake in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares during the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares during the last quarter. Finally, S.A. Mason LLC grew its stake in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $156.00 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $280.35 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.11. The company has a 50 day moving average of $151.92 and a 200 day moving average of $150.84. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 67.08%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Barclays lowered 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. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.