Chevron Co. (NYSE:CVX) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 56.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,489 shares of the oil and gas company’s stock after selling 9,814 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Chevron were worth $1,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. MONECO Advisors LLC grew its holdings in shares of Chevron by 9.2% during the fourth quarter. MONECO Advisors LLC now owns 20,516 shares of the oil and gas company’s stock valued at $2,971,000 after purchasing an additional 1,724 shares during the last quarter. Pekin Hardy Strauss Inc. boosted its position in Chevron by 7.5% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 38,561 shares of the oil and gas company’s stock valued at $5,585,000 after purchasing an additional 2,700 shares during the period. Howard Capital Management Inc. grew its stake in Chevron by 3.2% during the 4th quarter. Howard Capital Management Inc. now owns 19,075 shares of the oil and gas company’s stock worth $2,763,000 after buying an additional 598 shares during the last quarter. Integral Investment Advisors Inc. increased its position in Chevron by 4.0% in the fourth quarter. Integral Investment Advisors Inc. now owns 14,457 shares of the oil and gas company’s stock worth $2,094,000 after buying an additional 560 shares during the period. Finally, Theory Financial LLC lifted its stake in Chevron by 10.7% in the fourth quarter. Theory Financial LLC now owns 2,077 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. UBS Group cut their price objective 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. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Four 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.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 1.2 %

Shares of CVX stock opened at $156.92 on Friday. The company has a market capitalization of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s 50 day simple moving average is $151.97 and its 200 day simple moving average is $151.05. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 quarter last year, the firm earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. 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. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.