Staley Capital Advisers Inc. Reduces Stake in Chevron Co. (NYSE:CVX)

Staley Capital Advisers Inc. trimmed its stake in Chevron Co. (NYSE:CVX) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 402,302 shares of the oil and gas company’s stock after selling 13,734 shares during the period. Chevron makes up approximately 2.6% of Staley Capital Advisers Inc.’s portfolio, making the stock its 11th largest position. Staley Capital Advisers Inc.’s holdings in Chevron were worth $58,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SoundView Advisors Inc. purchased a new position in Chevron in the fourth quarter valued at about $358,000. Citizens Financial Group Inc. RI boosted its stake in Chevron by 10.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 61,558 shares of the oil and gas company’s stock valued at $8,916,000 after acquiring an additional 5,822 shares during the last quarter. Sage Mountain Advisors LLC boosted its stake in Chevron by 5.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 11,883 shares of the oil and gas company’s stock valued at $1,721,000 after acquiring an additional 615 shares during the last quarter. Riverbend Wealth Management LLC purchased a new position in Chevron in the fourth quarter valued at about $869,000. Finally, Claris Advisors LLC MO raised its position in shares of Chevron by 19.3% in the fourth quarter. Claris Advisors LLC MO now owns 2,304 shares of the oil and gas company’s stock valued at $334,000 after purchasing an additional 372 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CVX shares. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

CVX stock opened at $157.67 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market cap of $277.59 billion, a PE ratio of 16.22, a P/E/G ratio of 1.46 and a beta of 1.08. The firm has a 50 day simple moving average of $154.37 and a two-hundred day simple moving average of $151.86.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter in the previous year, the firm posted $3.45 earnings per share. On average, 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 $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Chevron 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.