Chevron Co. (NYSE:CVX) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 235,728 shares of the oil and gas company’s stock after selling 2,371 shares during the quarter. Chevron accounts for approximately 1.1% of Becker Capital Management Inc.’s portfolio, making the stock its 27th biggest position. Becker Capital Management Inc.’s holdings in Chevron were worth $34,143,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allianz SE bought a new position in Chevron during the fourth quarter valued at about $9,369,000. Nicholas Company Inc. boosted its stake in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock valued at $26,044,000 after buying an additional 2,755 shares in the last quarter. Cerity Partners LLC boosted its stake in Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after buying an additional 52,307 shares in the last quarter. Finally, Dale Q Rice Investment Management Ltd acquired a new position in shares of Chevron in the 4th quarter valued at $594,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $166.06.

Chevron Stock Down 0.6 %

Shares of CVX stock opened at $139.30 on Wednesday. The stock’s 50 day simple moving average is $150.96 and its 200 day simple moving average is $152.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $245.25 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 EPS. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.91%. Chevron’s dividend payout ratio is 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Chevron 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.