Fiduciary Group LLC Has $2.31 Million Stock Position in Chevron Co. (NYSE:CVX)

Fiduciary Group LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,927 shares of the oil and gas company’s stock after selling 228 shares during the quarter. Fiduciary Group LLC’s holdings in Chevron were worth $2,307,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVX. United Bank increased its holdings in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 629 shares during the last quarter. Prospera Private Wealth LLC increased its holdings in shares of Chevron by 404.8% during the 3rd quarter. Prospera Private Wealth LLC now owns 52,012 shares of the oil and gas company’s stock worth $7,660,000 after acquiring an additional 41,709 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of Chevron by 93.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after acquiring an additional 60,750 shares during the last quarter. Jennison Associates LLC boosted its stake in Chevron by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock valued at $66,225,000 after purchasing an additional 47,747 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Chevron by 429.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 245,477 shares of the oil and gas company’s stock valued at $36,151,000 after purchasing an additional 199,148 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

NYSE:CVX opened at $164.00 on Thursday. The stock’s 50-day simple moving average is $155.77 and its 200 day simple moving average is $152.31. The firm has a market capitalization of $288.73 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 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.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 last year, the business earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.