Chevron Co. (NYSE:CVX) Shares Sold by Xponance Inc.

Xponance Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,400 shares of the oil and gas company’s stock after selling 9,961 shares during the quarter. Xponance Inc.’s holdings in Chevron were worth $32,647,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Generali Asset Management SPA SGR acquired a new position in Chevron in the fourth quarter valued at $11,771,000. Evoke Wealth LLC boosted its holdings in Chevron by 5.9% in the fourth quarter. Evoke Wealth LLC now owns 43,672 shares of the oil and gas company’s stock valued at $6,326,000 after purchasing an additional 2,428 shares during the last quarter. Horizon Investments LLC lifted its holdings in Chevron by 2.7% during the 4th quarter. Horizon Investments LLC now owns 37,650 shares of the oil and gas company’s stock worth $5,453,000 after buying an additional 1,000 shares during the last quarter. Carlson Capital Management raised its position in shares of Chevron by 6.6% during the 4th quarter. Carlson Capital Management now owns 3,350 shares of the oil and gas company’s stock worth $485,000 after purchasing an additional 206 shares during the period. Finally, Custos Family Office LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $244,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX stock opened at $158.69 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s fifty day moving average price is $155.26 and its 200-day moving average price is $152.14. 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 company has a market capitalization of $279.38 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business posted $3.45 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.31%. 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 payout ratio is presently 70.37%.

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.