Campbell Capital Management Inc. Decreases Stake in Chevron Co. (NYSE:CVX)

Campbell Capital Management Inc. lowered its position in shares of Chevron Co. (NYSE:CVX) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 46,284 shares of the oil and gas company’s stock after selling 374 shares during the quarter. Chevron comprises approximately 2.6% of Campbell Capital Management Inc.’s holdings, making the stock its 11th largest holding. Campbell Capital Management Inc.’s holdings in Chevron were worth $6,704,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Life Planning Partners Inc acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter worth approximately $30,000. Fairway Wealth LLC lifted its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock 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. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Shares of NYSE CVX opened at $157.10 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 $276.59 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a 50 day simple moving average of $155.03 and a 200-day simple moving average of $151.98.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period in the prior year, the company earned $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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The stock was 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 in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.