Chevron Co. (NYSE:CVX) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,447 shares of the oil and gas company’s stock after selling 2,859 shares during the period. Montag A & Associates Inc.’s holdings in Chevron were worth $6,583,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Tanglewood Legacy Advisors LLC grew its position in shares of Chevron by 18.3% in the fourth quarter. Tanglewood Legacy Advisors LLC now owns 4,969 shares of the oil and gas company’s stock valued at $720,000 after purchasing an additional 769 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Chevron in the 4th quarter valued at $990,000. Guyasuta Investment Advisors Inc. increased its stake in shares of Chevron by 1.0% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 242,140 shares of the oil and gas company’s stock worth $35,072,000 after acquiring an additional 2,410 shares during the last quarter. Aveo Capital Partners LLC raised its holdings in shares of Chevron by 1.9% during the 4th quarter. Aveo Capital Partners LLC now owns 13,043 shares of the oil and gas company’s stock worth $1,889,000 after acquiring an additional 239 shares during the period. Finally, BXM Wealth LLC acquired a new position in shares of Chevron during the 4th quarter valued at about $1,308,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Piper Sandler reduced their target price 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. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 0.4 %

Shares of CVX stock opened at $155.32 on Friday. The stock has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 company has a 50 day moving average price of $151.86 and a 200 day moving average price of $150.86.

Chevron (NYSE:CVX) last posted 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 period in the previous year, the business posted $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

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

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’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 transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

About Chevron

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.