Chevron Co. (NYSE:CVX) Shares Sold by Harrell Investment Partners LLC

Harrell Investment Partners LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,268 shares of the oil and gas company’s stock after selling 211 shares during the period. Harrell Investment Partners LLC’s holdings in Chevron were worth $1,342,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVX. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $31,000. Finally, Krane Funds Advisors LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.0 %

Shares of NYSE:CVX opened at $157.20 on Tuesday. The company has a market capitalization of $282.50 billion, a PE ratio of 17.27, a P/E/G ratio of 1.37 and a beta of 1.12. 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 twelve month low of $135.37 and a twelve month high of $167.11. The firm has a 50 day simple moving average of $153.81 and a 200-day simple moving average of $151.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Raymond James lifted their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

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

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.