Chevron Co. (NYSE:CVX) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA reduced its position in Chevron Co. (NYSE:CVX) by 1.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 44,332 shares of the oil and gas company’s stock after selling 727 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Chevron were worth $6,421,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Pettinga Financial Advisors LLC boosted its position in shares of Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares in the last quarter. United Bank boosted its position in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares in the last quarter. ING Groep NV purchased a new stake in shares of Chevron during the 3rd quarter worth $732,000. Kinsale Capital Group Inc. boosted its position in shares of Chevron by 1.2% during the 3rd quarter. Kinsale Capital Group Inc. now owns 37,143 shares of the oil and gas company’s stock worth $5,470,000 after purchasing an additional 425 shares in the last quarter. Finally, Accredited Investors Inc. boosted its position in shares of Chevron by 2.7% during the 3rd quarter. Accredited Investors Inc. now owns 5,380 shares of the oil and gas company’s stock worth $792,000 after purchasing an additional 142 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $157.10 on Monday. The firm has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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’s 50-day moving average is $155.03 and its two-hundred day moving average is $152.06. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business earned $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.