Chevron Co. (NYSE:CVX) is Poplar Forest Capital LLC’s 9th Largest Position

Poplar Forest Capital LLC lowered its position in Chevron Co. (NYSE:CVX) by 22.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 175,516 shares of the oil and gas company’s stock after selling 51,792 shares during the period. Chevron makes up about 3.8% of Poplar Forest Capital LLC’s portfolio, making the stock its 9th largest position. Poplar Forest Capital LLC’s holdings in Chevron were worth $26,180,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Windsor Advisory Group LLC lifted its holdings in shares of Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC raised its stake in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the last quarter. Altrius Capital Management Inc boosted its holdings in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after acquiring an additional 434 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in Chevron in the fourth quarter worth about $254,000. Finally, Strategic Financial Concepts LLC grew its stake in shares of Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after acquiring an additional 476 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVX shares. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Wells Fargo & Company boosted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada raised their price objective 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. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Chevron Trading Up 0.5 %

CVX stock traded up $0.84 during mid-day trading on Wednesday, hitting $163.69. 7,607,146 shares of the company were exchanged, compared to its average volume of 8,448,613. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $156.14 and a 200-day simple moving average of $151.75. The firm has a market capitalization of $304.02 billion, a P/E ratio of 14.41, a PEG ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the prior year, the business earned $4.09 EPS. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Insider Buying and Selling at Chevron

In other 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 sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

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.