Chevron Co. (NYSE:CVX) Shares Sold by Geneva Partners LLC

Geneva Partners LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 51.7% during the fourth quarter, Holdings Channel reports. The fund owned 7,258 shares of the oil and gas company’s stock after selling 7,782 shares during the quarter. Geneva Partners LLC’s holdings in Chevron were worth $1,083,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Picton Mahoney Asset Management purchased a new stake in Chevron in the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Finally, Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Performance

NYSE:CVX traded up $2.43 during trading hours on Friday, reaching $160.00. 7,592,840 shares of the stock were exchanged, compared to its average volume of 8,519,150. The stock has a market capitalization of $297.16 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.36 and a beta of 1.12. The firm has a 50 day simple moving average of $155.44 and a 200-day simple moving average of $151.86. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the business posted $4.09 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. Chevron’s payout ratio is 57.39%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% 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.