Chevron Co. (NYSE:CVX) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its stake in Chevron Co. (NYSE:CVX) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,117 shares of the oil and gas company’s stock after selling 48,966 shares during the period. Vontobel Holding Ltd.’s holdings in Chevron were worth $16,384,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Tacita Capital Inc boosted its position in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. boosted its position in shares of 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 worth $1,212,000 after acquiring an additional 65 shares during the last quarter. TFB Advisors LLC boosted its position in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Chevron by 0.3% in 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 buying an additional 67 shares during the period. Finally, S.A. Mason LLC raised its holdings in 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. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. UBS Group cut their price target 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 0.4 %

Shares of NYSE:CVX opened at $155.32 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $151.86 and a 200 day simple moving average of $150.87. The firm has a market cap of $279.12 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued 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 business posted $3.45 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

Insiders Place Their Bets

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

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.