Deltec Asset Management LLC Sells 200 Shares of Chevron Co. (NYSE:CVX)

Deltec Asset Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,381 shares of the oil and gas company’s stock after selling 200 shares during the period. Deltec Asset Management LLC’s holdings in Chevron were worth $924,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Tacita Capital Inc increased its position in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares during the period. Wallace Capital Management Inc. grew 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 worth $1,212,000 after acquiring an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the period. S.A. Mason LLC raised its stake in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC boosted its holdings in Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CVX. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling

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

Chevron Stock Performance

NYSE:CVX opened at $153.01 on Thursday. The stock has a market capitalization of $274.98 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a 50 day moving average of $152.79 and a 200-day moving average of $150.89. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company posted $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 67.08%.

Chevron Company Profile

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.