Cary Street Partners Investment Advisory LLC Has $2.42 Million Position in Chevron Co. (NYSE:CVX)

Cary Street Partners Investment Advisory LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 65.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,245 shares of the oil and gas company’s stock after selling 30,951 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Chevron were worth $2,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Vanguard Group Inc. lifted its stake in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after buying an additional 458,080 shares in the last quarter. Morgan Stanley boosted its stake in Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after purchasing an additional 368,898 shares during the period. Northern Trust Corp increased its holdings in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Chevron by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after purchasing an additional 62,254 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. 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 data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded down $2.95 during mid-day trading on Tuesday, hitting $163.38. 3,007,019 shares of the stock were exchanged, compared to its average volume of 8,386,704. The firm’s 50-day simple moving average is $156.81 and its 200 day simple moving average is $151.70. The stock has a market capitalization of $303.44 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its 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. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the business posted $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.99%. Chevron’s payout ratio is presently 59.98%.

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.