Eudaimonia Advisors LLC Sells 279 Shares of Chevron Co. (NYSE:CVX)

Eudaimonia Advisors LLC cut its holdings in Chevron Co. (NYSE:CVX) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,524 shares of the oil and gas company’s stock after selling 279 shares during the period. Chevron comprises 0.9% of Eudaimonia Advisors LLC’s holdings, making the stock its 27th largest holding. Eudaimonia Advisors LLC’s holdings in Chevron were worth $1,421,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CVX. Picton Mahoney Asset Management bought a new position in Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% during 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 purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $33,000. Legacy Financial Group LLC bought a new position in Chevron during the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc grew its stake in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVX shares. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Monday, January 8th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen cut shares of 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 research report on Tuesday, January 23rd. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Up 0.6 %

NYSE:CVX traded up $0.93 during midday trading on Tuesday, reaching $162.85. 5,587,920 shares of the stock traded hands, compared to its average volume of 8,459,302. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.38. The business has a 50-day moving average of $155.63 and a two-hundred day moving average of $151.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market capitalization of $302.46 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is presently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the 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 sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.