Chevron Co. (NYSE:CVX) Shares Sold by Marino Stram & Associates LLC

Marino Stram & Associates LLC decreased its stake in Chevron Co. (NYSE:CVX) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,163 shares of the oil and gas company’s stock after selling 99 shares during the quarter. Marino Stram & Associates LLC’s holdings in Chevron were worth $472,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler reduced their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Finally, UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $183.55.

Chevron Trading Down 0.8 %

NYSE CVX opened at $156.28 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.54. The stock has a market capitalization of $290.25 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The firm has a 50 day moving average of $155.11 and a two-hundred day moving average of $151.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping 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 company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the previous year, the business posted $4.09 EPS. The firm’s revenue was down 16.5% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.