Bailard Inc. Sells 2,667 Shares of Chevron Co. (NYSE:CVX)

Bailard Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,439 shares of the oil and gas company’s stock after selling 2,667 shares during the period. Bailard Inc.’s holdings in Chevron were worth $12,744,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sweet Financial Partners LLC grew its holdings in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its holdings in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its holdings in Chevron by 1.4% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after buying an additional 68 shares in the last quarter. Octavia Wealth Advisors LLC grew its holdings in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 68 shares in the last quarter. Finally, Rosenbaum Jay D. grew its holdings in Chevron by 1.4% in the 3rd quarter. Rosenbaum Jay D. now owns 5,160 shares of the oil and gas company’s stock valued at $870,000 after buying an additional 70 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Truist Financial lowered their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Wells Fargo & Company increased their price target on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Stock Up 0.5 %

Shares of NYSE CVX traded up $0.84 during midday trading on Wednesday, hitting $163.69. 7,607,146 shares of the company’s stock were exchanged, compared to its average volume of 8,448,613. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a market cap of $304.02 billion, a PE ratio of 14.41, a P/E/G ratio of 2.38 and a beta of 1.12. The firm’s fifty day simple moving average is $156.14 and its 200-day simple moving average is $151.75.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the company earned $4.09 EPS. The business’s quarterly revenue was down 16.5% on a year-over-year basis. Research analysts predict that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 3.98%. Chevron’s payout ratio is 57.39%.

Chevron 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.