Chevron Co. (NYSE:CVX) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its holdings in Chevron Co. (NYSE:CVX) by 16.9% during the 4th quarter, Holdings Channel reports. The fund owned 92,090 shares of the oil and gas company’s stock after selling 18,741 shares during the quarter. Dakota Wealth Management’s holdings in Chevron were worth $13,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CVX. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC boosted its stake in Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC boosted its stake in Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC boosted its stake in Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after purchasing an additional 250,840 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s 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 transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.59 on Tuesday. 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 $172.54. The business has a fifty day simple moving average of $155.03 and a 200 day simple moving average of $151.92. The firm has a market cap of $292.69 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping 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 business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the company earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 13.24 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. Truist Financial decreased their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. 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. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, 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. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.55.

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.