Stevens Capital Management LP Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Stevens Capital Management LP decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 69.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,001 shares of the oil and gas company’s stock after selling 6,730 shares during the period. Stevens Capital Management LP’s holdings in Chevron were worth $448,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $33,000. Legacy Financial Group LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $43,000. Finally, Roble Belko & Company Inc grew its position in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada lifted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Performance

NYSE CVX traded up $1.70 on Thursday, hitting $165.27. 9,694,216 shares of the company’s stock traded hands, compared to its average volume of 8,464,199. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s 50-day moving average price is $156.14 and its two-hundred day moving average price is $151.75. The firm has a market capitalization of $306.95 billion, a PE ratio of 14.39, a P/E/G ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its 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 net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the business posted $4.09 EPS. The business’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is currently 57.39%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were 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 in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

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.