Raab & Moskowitz Asset Management LLC Has $2.31 Million Stock Position in Chevron Co. (NYSE:CVX)

Raab & Moskowitz Asset Management LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,925 shares of the oil and gas company’s stock after selling 208 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Chevron were worth $2,307,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $154.91 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a fifty day simple moving average of $151.99 and a 200 day simple moving average of $150.81. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $278.39 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm earned $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

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.