Foster Dykema Cabot & Partners LLC Sells 463 Shares of Chevron Co. (NYSE:CVX)

Foster Dykema Cabot & Partners LLC decreased its position in Chevron Co. (NYSE:CVX) by 25.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,372 shares of the oil and gas company’s stock after selling 463 shares during the quarter. Foster Dykema Cabot & Partners LLC’s holdings in Chevron were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. First Commonwealth Financial Corp PA grew its holdings in shares of Chevron by 2.6% in the fourth quarter. First Commonwealth Financial Corp PA now owns 7,957 shares of the oil and gas company’s stock valued at $1,152,000 after purchasing an additional 204 shares in the last quarter. Capital Square LLC lifted its position in Chevron by 20.8% during the fourth quarter. Capital Square LLC now owns 5,186 shares of the oil and gas company’s stock valued at $807,000 after purchasing an additional 894 shares during the last quarter. Osterweis Capital Management Inc. lifted its position in Chevron by 5.7% during the fourth quarter. Osterweis Capital Management Inc. now owns 1,850 shares of the oil and gas company’s stock valued at $267,000 after purchasing an additional 100 shares during the last quarter. Farringdon Capital Ltd. purchased a new position in shares of Chevron in the 4th quarter worth $1,746,000. Finally, Advisory Research Inc. increased its holdings in shares of Chevron by 1.5% in the 4th quarter. Advisory Research Inc. now owns 9,923 shares of the oil and gas company’s stock worth $1,437,000 after buying an additional 142 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Chevron Stock Up 0.6 %

Shares of NYSE CVX opened at $135.41 on Thursday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $238.40 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.46 and a beta of 0.93. The stock has a 50 day moving average price of $154.30 and a 200 day moving average price of $153.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the firm earned $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.