Greenleaf Trust Sells 4,102 Shares of Chevron Co. (NYSE:CVX)

Greenleaf Trust cut its position in shares of Chevron Co. (NYSE:CVX) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,450 shares of the oil and gas company’s stock after selling 4,102 shares during the quarter. Greenleaf Trust’s holdings in Chevron were worth $7,674,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Naples Money Management LLC acquired a new position in Chevron during the 4th quarter worth approximately $255,000. Tanager Wealth Management LLP lifted its position in shares of Chevron by 1.7% in the fourth quarter. Tanager Wealth Management LLP now owns 5,295 shares of the oil and gas company’s stock worth $790,000 after purchasing an additional 86 shares in the last quarter. RIA Advisory Group LLC lifted its position in shares of Chevron by 5.4% in the fourth quarter. RIA Advisory Group LLC now owns 2,646 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 135 shares in the last quarter. Zhang Financial LLC boosted its holdings in Chevron by 4.3% during the fourth quarter. Zhang Financial LLC now owns 3,441 shares of the oil and gas company’s stock worth $513,000 after purchasing an additional 142 shares during the last quarter. Finally, Beaumont Financial Advisors LLC grew its position in Chevron by 0.9% in the fourth quarter. Beaumont Financial Advisors LLC now owns 10,136 shares of the oil and gas company’s stock valued at $1,512,000 after purchasing an additional 93 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE:CVX traded up $2.43 during trading hours on Friday, hitting $160.00. The company’s stock had a trading volume of 7,592,840 shares, compared to its average volume of 8,519,150. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a fifty day simple moving average of $155.26 and a 200-day simple moving average of $151.90. The company has a market capitalization of $297.16 billion, a P/E ratio of 14.08, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period last year, the company posted $4.09 EPS. On average, analysts anticipate that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Raymond James increased their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. 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 report on Monday, January 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Truist Financial lowered their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

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.