Naples Global Advisors LLC Sells 1,275 Shares of Chevron Co. (NYSE:CVX)

Naples Global Advisors LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,195 shares of the oil and gas company’s stock after selling 1,275 shares during the quarter. Naples Global Advisors LLC’s holdings in Chevron were worth $4,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Wedge Capital Management L L P NC increased its stake in shares of Chevron by 4.3% in the third quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 120 shares in the last quarter. Regatta Capital Group LLC raised its holdings in Chevron by 9.9% during the 3rd quarter. Regatta Capital Group LLC now owns 5,497 shares of the oil and gas company’s stock valued at $810,000 after acquiring an additional 493 shares during the period. PFG Advisors raised its holdings in Chevron by 5.6% during the 3rd quarter. PFG Advisors now owns 39,340 shares of the oil and gas company’s stock valued at $5,794,000 after acquiring an additional 2,084 shares during the period. Foster Victor Wealth Advisors LLC lifted its position in shares of Chevron by 12.0% during the third quarter. Foster Victor Wealth Advisors LLC now owns 60,740 shares of the oil and gas company’s stock worth $9,090,000 after acquiring an additional 6,486 shares in the last quarter. Finally, QV Investors Inc. boosted its holdings in shares of Chevron by 0.6% in the third quarter. QV Investors Inc. now owns 22,897 shares of the oil and gas company’s stock worth $3,372,000 after acquiring an additional 140 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 1.6 %

Shares of CVX stock opened at $154.91 on Thursday. 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 market cap of $278.39 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The business has a 50-day moving average price of $151.99 and a two-hundred day moving average price of $150.81. 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 for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company posted $3.45 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s dividend payout ratio is 67.08%.

Insider Activity at Chevron

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

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities 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, Chevron 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.