Strategy Asset Managers LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Strategy Asset Managers LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 46,498 shares of the oil and gas company’s stock after selling 2,040 shares during the period. Chevron accounts for 1.3% of Strategy Asset Managers LLC’s portfolio, making the stock its 23rd biggest position. Strategy Asset Managers LLC’s holdings in Chevron were worth $6,735,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. United Bank lifted its stake in Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Chevron by 7.2% in the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock valued at $355,000 after purchasing an additional 163 shares during the last quarter. Peterson Wealth Management raised its stake in shares of Chevron by 1.8% during the 3rd quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock valued at $1,232,000 after buying an additional 149 shares during the last quarter. Martingale Asset Management L P grew its holdings in Chevron by 2.8% during the third quarter. Martingale Asset Management L P now owns 183,259 shares of the oil and gas company’s stock worth $26,989,000 after acquiring an additional 4,924 shares during the period. Finally, Providence Wealth Advisors LLC lifted its holdings in Chevron by 1.1% in the third quarter. Providence Wealth Advisors LLC now owns 14,113 shares of the oil and gas company’s stock valued at $2,114,000 after acquiring an additional 150 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Down 0.4 %

Shares of NYSE:CVX opened at $166.06 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $168.96. The stock has a 50-day simple moving average of $157.10 and a 200-day simple moving average of $153.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $292.37 billion, a P/E ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 in the previous year, the company earned $3.45 EPS. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.