Vestmark Advisory Solutions Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,989 shares of the oil and gas company’s stock after selling 2,064 shares during the quarter. Chevron comprises about 1.0% of Vestmark Advisory Solutions Inc.’s holdings, making the stock its 8th biggest holding. Vestmark Advisory Solutions Inc.’s holdings in Chevron were worth $20,101,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Avestar Capital LLC grew its position in shares of Chevron by 7.7% during the fourth quarter. Avestar Capital LLC now owns 5,050 shares of the oil and gas company’s stock worth $906,000 after acquiring an additional 359 shares during the last quarter. Hedeker Wealth LLC grew its position in shares of Chevron by 33.8% during the fourth quarter. Hedeker Wealth LLC now owns 15,420 shares of the oil and gas company’s stock worth $2,768,000 after acquiring an additional 3,899 shares during the last quarter. Gemmer Asset Management LLC grew its position in shares of Chevron by 2.4% during the fourth quarter. Gemmer Asset Management LLC now owns 5,036 shares of the oil and gas company’s stock worth $904,000 after acquiring an additional 118 shares during the last quarter. Truadvice LLC grew its position in shares of Chevron by 15.8% during the fourth quarter. Truadvice LLC now owns 2,012 shares of the oil and gas company’s stock worth $363,000 after acquiring an additional 274 shares during the last quarter. Finally, Sturgeon Ventures LLP purchased a new position in shares of Chevron during the fourth quarter worth approximately $1,413,000. Institutional investors and hedge funds own 69.37% of the company’s stock.
Chevron Trading Up 0.5 %
Shares of CVX opened at $163.16 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The stock has a 50-day moving average price of $165.22 and a 200 day moving average price of $169.40. The company has a market capitalization of $311.09 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.78 and a beta of 1.16.
Chevron announced that its Board of Directors has authorized a share buyback program on Wednesday, January 25th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Chevron Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $6.04 annualized dividend and a yield of 3.70%. This is a boost from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio is presently 33.04%.
Insider Buying and Selling at Chevron
In other news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the completion of the sale, the vice president now directly owns 3,967 shares in the company, valued at approximately $674,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
CVX has been the topic of a number of analyst reports. BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price objective on the stock. in a research report on Wednesday, December 14th. Raymond James reduced their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Monday, January 30th. Piper Sandler reduced their target price on Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. HSBC lifted their price target on Chevron to $187.00 in a research note on Friday, December 2nd. Finally, Morgan Stanley cut their price target on Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $189.33.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
Read More
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- What is a Gold IRA, and is it a Viable Investment?
- Is Braze, Inc Ready To Rocket Higher?
- Mullen Automotive Makes Deliveries; Short-Squeeze Possible
- Can Frontline Maintain This Momentum?
- Walmart Shares Jump on Evercore Analyst Upgrade
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
