Capricorn Fund Managers Ltd Sells 99 Shares of Chevron Co. (NYSE:CVX)

Capricorn Fund Managers Ltd trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,516 shares of the oil and gas company’s stock after selling 99 shares during the period. Chevron comprises approximately 2.6% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 13th largest holding. Capricorn Fund Managers Ltd’s holdings in Chevron were worth $5,797,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVX. Tacita Capital Inc grew its position in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares during the period. Wallace Capital Management Inc. lifted its stake in 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 valued at $1,212,000 after purchasing an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings 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 valued at $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC raised its stake in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares during the period. Finally, Jag Capital Management LLC lifted its position in shares of Chevron by 5.2% during 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 buying an additional 67 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX stock opened at $156.39 on Thursday. The firm has a 50 day simple moving average of $154.09 and a two-hundred day simple moving average of $151.07. The stock has a market cap of $281.05 billion, a PE ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. 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 (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.