Mraz Amerine & Associates Inc. Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Mraz Amerine & Associates Inc. cut its position in Chevron Co. (NYSE:CVX) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,684 shares of the oil and gas company’s stock after selling 807 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Chevron were worth $1,113,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares during the period. Pacer Advisors Inc. lifted its position in Chevron by 949.6% during the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after purchasing an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Finally, State Street Corp grew its position in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.4 %

Shares of CVX opened at $155.32 on Tuesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock 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. The firm’s fifty day moving average is $151.86 and its two-hundred day moving average is $150.73. 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 (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the firm posted $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate 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.