Ieq Capital LLC Has $13.56 Million Holdings in Chevron Co. (NYSE:CVX)

Ieq Capital LLC lessened its stake in Chevron Co. (NYSE:CVX) by 7.8% in the 4th quarter, HoldingsChannel reports. The fund owned 93,600 shares of the oil and gas company’s stock after selling 7,880 shares during the quarter. Ieq Capital LLC’s holdings in Chevron were worth $13,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tacita Capital Inc lifted its holdings 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 acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. increased 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 valued at $1,212,000 after buying an additional 65 shares during the period. TFB Advisors LLC increased 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 valued at $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. increased its stake in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares during the period. Finally, S.A. Mason LLC increased 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 valued at $1,330,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $157.14 on Thursday. The company has a market cap of $282.39 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $151.82 and a 200-day moving average of $150.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company posted $3.45 EPS. On average, equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVX shares. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.