Kapstone Financial Advisors LLC Cuts Position in Chevron Co. (NYSE:CVX)

Kapstone Financial Advisors LLC reduced its position in Chevron Co. (NYSE:CVX) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,781 shares of the oil and gas company’s stock after selling 255 shares during the quarter. Kapstone Financial Advisors LLC’s holdings in Chevron were worth $589,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Pettinga Financial Advisors LLC boosted its position in Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the period. Van ECK Associates Corp lifted its stake in shares of Chevron by 45.8% during the third quarter. Van ECK Associates Corp now owns 640,246 shares of the oil and gas company’s stock worth $96,344,000 after purchasing an additional 201,189 shares in the last quarter. IAG Wealth Partners LLC boosted its position in shares of Chevron by 4.3% in the third quarter. IAG Wealth Partners LLC now owns 2,374 shares of the oil and gas company’s stock worth $350,000 after buying an additional 98 shares during the period. Harbour Investment Management LLC grew its stake in shares of Chevron by 17.7% in the third quarter. Harbour Investment Management LLC now owns 18,239 shares of the oil and gas company’s stock valued at $2,686,000 after buying an additional 2,749 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in shares of Chevron by 2.8% during the 3rd quarter. Forum Financial Management LP now owns 32,401 shares of the oil and gas company’s stock valued at $4,772,000 after buying an additional 877 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $153.05 on Tuesday. 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 capitalization of $269.46 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The business has a 50 day simple moving average of $153.35 and a 200-day simple moving average of $151.58.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company posted $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In other Chevron 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 completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $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 is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Company 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.