Weaver C. Barksdale & Associates Inc. Trims Stock Position in Chevron Co. (NYSE:CVX)

Weaver C. Barksdale & Associates Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,644 shares of the oil and gas company’s stock after selling 289 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Chevron were worth $1,687,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter worth about $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC raised its position in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased 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. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Chevron stock opened at $165.93 on Wednesday. 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’s 50-day simple moving average is $156.67 and its 200 day simple moving average is $153.01. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.82. The firm has a market capitalization of $292.14 billion, a PE ratio of 17.07, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 firm earned $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by 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.