Sentry Investment Management LLC Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Sentry Investment Management LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 14.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,037 shares of the oil and gas company’s stock after selling 1,146 shares during the quarter. Sentry Investment Management LLC’s holdings in Chevron were worth $1,019,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter valued at $25,000. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

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

Chevron Stock Up 0.6 %

Shares of Chevron stock opened at $157.85 on Tuesday. 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 company has a market cap of $283.68 billion, a P/E ratio of 16.24, a PEG ratio of 1.46 and a beta of 1.11. The firm’s 50 day moving average price is $152.14 and its 200-day moving average price is $151.20. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 previous year, the business earned $3.45 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.