Martin Capital Partners LLC Sells 16,465 Shares of Chevron Co. (NYSE:CVX)

Martin Capital Partners LLC reduced its position in Chevron Co. (NYSE:CVX) by 56.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,603 shares of the oil and gas company’s stock after selling 16,465 shares during the period. Chevron accounts for about 2.2% of Martin Capital Partners LLC’s portfolio, making the stock its 25th largest position. Martin Capital Partners LLC’s holdings in Chevron were worth $1,825,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Money Concepts Capital Corp grew its holdings in Chevron by 7.1% in the fourth quarter. Money Concepts Capital Corp now owns 7,987 shares of the oil and gas company’s stock worth $1,157,000 after purchasing an additional 527 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Chevron by 9.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 41,435 shares of the oil and gas company’s stock worth $6,464,000 after purchasing an additional 3,407 shares in the last quarter. Lion Street Advisors LLC grew its stake in Chevron by 4.6% during the 4th quarter. Lion Street Advisors LLC now owns 9,316 shares of the oil and gas company’s stock worth $1,349,000 after buying an additional 411 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Chevron by 15.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,344 shares of the oil and gas company’s stock valued at $99,907,000 after buying an additional 92,831 shares in the last quarter. Finally, Virginia Wealth Management Group Inc. raised its stake in Chevron by 1.4% in the fourth quarter. Virginia Wealth Management Group Inc. now owns 23,716 shares of the oil and gas company’s stock valued at $3,435,000 after buying an additional 337 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday. Finally, Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday. Four equities research 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.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Down 0.1 %

Chevron stock opened at $153.01 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. The firm has a market cap of $274.98 billion, a PE ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. The stock’s 50 day simple moving average is $152.79 and its two-hundred day simple moving average is $150.89. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 business posted $3.45 EPS. Analysts anticipate that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The firm 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 $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. Chevron’s dividend payout ratio is presently 67.08%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company 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.