One Capital Management LLC Sells 2,224 Shares of Chevron Co. (NYSE:CVX)

One Capital Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,667 shares of the oil and gas company’s stock after selling 2,224 shares during the period. One Capital Management LLC’s holdings in Chevron were worth $11,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CVX. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $31,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at $39,000. Finally, Newton One Investments LLC acquired a new stake in shares of Chevron during the 4th quarter valued at $46,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE CVX opened at $150.93 on Thursday. The firm has a market cap of $265.73 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.46 and a beta of 1.08. The company has a 50-day simple moving average of $153.65 and a two-hundred day simple moving average of $151.61. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month 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 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 prior year, the company earned $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.53%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on 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 sale, 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 filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, 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 report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

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.