Rosenberg Matthew Hamilton Sells 925 Shares of Chevron Co. (NYSE:CVX)

Rosenberg Matthew Hamilton reduced its position in Chevron Co. (NYSE:CVX) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,038 shares of the oil and gas company’s stock after selling 925 shares during the period. Rosenberg Matthew Hamilton’s holdings in Chevron were worth $730,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after acquiring an additional 672,244 shares during the period. Franklin Resources Inc. lifted its stake in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.0 %

Chevron stock opened at $156.85 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $281.87 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12. The firm has a 50 day moving average of $153.78 and a 200 day moving average of $150.95.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the company posted $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial upped their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday. Finally, UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

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.