Eudaimonia Partners LLC Reduces Position in Chevron Co. (NYSE:CVX)

Eudaimonia Partners LLC cut its position in Chevron Co. (NYSE:CVXFree Report) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,596 shares of the oil and gas company’s stock after selling 4,797 shares during the period. Chevron accounts for 1.0% of Eudaimonia Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Eudaimonia Partners LLC’s holdings in Chevron were worth $3,818,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the 3rd quarter valued at $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Finally, Roble Belko & Company Inc boosted its holdings in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were 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 in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were 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 in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold 15,796 shares of company stock worth $2,575,361 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVX. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Mizuho increased their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Truist Financial increased their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. 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 MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $186.10.

Check Out Our Latest Analysis on CVX

Chevron Price Performance

Shares of CVX traded down $0.56 during trading hours on Wednesday, reaching $163.05. The company had a trading volume of 7,510,866 shares, compared to its average volume of 8,332,306. The firm has a 50 day simple moving average of $158.95 and a 200-day simple moving average of $151.80. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $301.15 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.42 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.55 EPS. Research analysts expect that Chevron Co. will post 13.57 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.00%. Chevron’s dividend payout ratio is presently 59.98%.

Chevron Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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