Capital Square LLC Sells 285 Shares of Chevron Co. (NYSE:CVX)

Capital Square LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 7.8% in the fourth quarter, Holdings Channel reports. The firm owned 3,373 shares of the oil and gas company’s stock after selling 285 shares during the quarter. Capital Square LLC’s holdings in Chevron were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Moneta Group Investment Advisors LLC increased its stake in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron in the fourth quarter worth approximately $3,058,235,000. Imprint Wealth LLC grew its stake in shares of Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after acquiring an additional 5,343,782 shares during the period. Morgan Stanley grew its stake in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after acquiring an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Wells Fargo & Company lifted their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a research note on Thursday. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Finally, UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.60.

Chevron Price Performance

Shares of NYSE:CVX opened at $161.89 on Friday. 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 1-year low of $139.62 and a 1-year high of $172.88. The company has a market capitalization of $300.67 billion, a P/E ratio of 14.25, a P/E/G ratio of 2.46 and a beta of 1.12. The firm’s 50 day simple moving average is $154.79 and its two-hundred day simple moving average is $152.32.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. Research analysts expect that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through this link. 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.