Chevron Co. (NYSE:CVX) Shares Sold by Greenleaf Trust

Greenleaf Trust lowered its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,450 shares of the oil and gas company’s stock after selling 4,102 shares during the quarter. Greenleaf Trust’s holdings in Chevron were worth $7,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $255,000. Tanager Wealth Management LLP raised its position in shares of Chevron by 1.7% during the 4th quarter. Tanager Wealth Management LLP now owns 5,295 shares of the oil and gas company’s stock valued at $790,000 after acquiring an additional 86 shares in the last quarter. RIA Advisory Group LLC lifted its holdings in Chevron by 5.4% in the fourth quarter. RIA Advisory Group LLC now owns 2,646 shares of the oil and gas company’s stock worth $395,000 after acquiring an additional 135 shares during the last quarter. Zhang Financial LLC lifted its stake in Chevron by 4.3% in the fourth quarter. Zhang Financial LLC now owns 3,441 shares of the oil and gas company’s stock valued at $513,000 after buying an additional 142 shares during the last quarter. Finally, Beaumont Financial Advisors LLC boosted its holdings in shares of Chevron by 0.9% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,136 shares of the oil and gas company’s stock valued at $1,512,000 after acquiring an additional 93 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.5 %

Shares of NYSE:CVX traded up $2.43 on Friday, reaching $160.00. The company had a trading volume of 7,592,840 shares, compared to its average volume of 8,519,150. The stock has a market capitalization of $297.16 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.36 and a beta of 1.12. The stock has a 50-day moving average price of $155.26 and a 200 day moving average price of $151.90. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. 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 (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share 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 firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company earned $4.09 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 13.27 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. 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. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CVX shares. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Wells Fargo & Company lifted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Finally, TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

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.