Channing Capital Management LLC Sells 20,366 Shares of Chevron Co. (NYSE:CVX)

Channing Capital Management LLC decreased its stake in Chevron Co. (NYSE:CVX) by 34.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,429 shares of the oil and gas company’s stock after selling 20,366 shares during the period. Channing Capital Management LLC’s holdings in Chevron were worth $5,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $31,000. New Wave Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $39,000. Finally, Newton One Investments LLC acquired a new stake in Chevron in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on 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. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Trading Down 2.3 %

Shares of NYSE:CVX opened at $153.94 on Wednesday. The business’s 50 day simple moving average is $154.55 and its 200 day simple moving average is $151.91. The company has a market capitalization of $271.02 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.46 and a beta of 1.08. 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 1 year low of $135.37 and a 1 year high of $167.11.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 4.44%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup raised 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. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.