Victory Capital Management Inc. Has $217.29 Million Holdings in Chevron Co. (NYSE:CVX)

Victory Capital Management Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,500,178 shares of the oil and gas company’s stock after selling 14,416 shares during the period. Victory Capital Management Inc.’s holdings in Chevron were worth $217,286,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter worth about $25,000. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the third quarter worth about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $151.99 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s 50 day moving average price is $153.51 and its two-hundred day moving average price is $151.61. The stock has a market capitalization of $267.59 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results 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 last year, the business earned $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.50%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price 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.