Chevron Co. (NYSE:CVX) Shares Sold by Bailard Inc.

Bailard Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,439 shares of the oil and gas company’s stock after selling 2,667 shares during the quarter. Bailard Inc.’s holdings in Chevron were worth $12,744,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. BIP Wealth LLC increased its position in shares of Chevron by 141.5% during the 4th quarter. BIP Wealth LLC now owns 6,397 shares of the oil and gas company’s stock valued at $954,000 after purchasing an additional 3,748 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Chevron by 3.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,851 shares of the oil and gas company’s stock valued at $9,971,000 after purchasing an additional 2,442 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of Chevron by 0.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 177,347 shares of the oil and gas company’s stock valued at $26,453,000 after purchasing an additional 856 shares during the period. Carret Asset Management LLC increased its position in shares of Chevron by 0.4% during the 4th quarter. Carret Asset Management LLC now owns 80,820 shares of the oil and gas company’s stock valued at $12,055,000 after purchasing an additional 288 shares during the period. Finally, Bfsg LLC increased its position in shares of Chevron by 3.9% during the 4th quarter. Bfsg LLC now owns 27,141 shares of the oil and gas company’s stock valued at $4,048,000 after purchasing an additional 1,020 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of several research reports. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Chevron Stock Performance

Shares of Chevron stock traded up $0.84 during trading on Wednesday, reaching $163.69. The company’s stock had a trading volume of 7,607,146 shares, compared to its average volume of 8,448,613. 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 business’s fifty day moving average price is $156.14 and its 200-day moving average price is $151.75. The firm has a market cap of $304.02 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

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 the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.98%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.