Twin Capital Management Inc. Decreases Stake in Chevron Co. (NYSE:CVX)

Twin Capital Management Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 29.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,210 shares of the oil and gas company’s stock after selling 12,326 shares during the period. Twin Capital Management Inc.’s holdings in Chevron were worth $4,357,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CVX. Windsor Advisory Group LLC boosted its position in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares in the last quarter. Renaissance Investment Group LLC boosted its position in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc raised its stake in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new position in Chevron in the 4th quarter valued at about $254,000. Finally, Strategic Financial Concepts LLC raised its stake in Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after purchasing an additional 476 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.5 %

NYSE CVX traded up $0.81 on Thursday, reaching $157.21. The company had a trading volume of 2,114,666 shares, compared to its average volume of 8,489,327. The firm has a market capitalization of $291.98 billion, a PE ratio of 13.89, a P/E/G ratio of 2.30 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38. The firm has a 50-day moving average of $155.19 and a 200-day moving average of $151.86. 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 (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during 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%. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.09 EPS. On average, equities research analysts anticipate that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is 57.39%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. 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 note on Tuesday, April 9th. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the 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 in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.