Hillsdale Investment Management Inc. Sells 570 Shares of Chevron Co. (NYSE:CVX)

Hillsdale Investment Management Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,760 shares of the oil and gas company’s stock after selling 570 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Chevron were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. Nicholas Company Inc. grew its holdings in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares during the period. Dale Q Rice Investment Management Ltd bought a new position in shares of Chevron in the 4th quarter worth approximately $594,000. Unified Investment Management purchased a new stake in Chevron in the fourth quarter worth $729,000. Finally, ING Groep NV raised its holdings in Chevron by 3,942.6% in the fourth quarter. ING Groep NV now owns 200,998 shares of the oil and gas company’s stock worth $29,113,000 after purchasing an additional 196,026 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report 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 stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction 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 Trading Up 0.2 %

Chevron stock opened at $165.10 on Tuesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market cap of $290.68 billion, a P/E ratio of 16.99, a P/E/G 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. The business has a 50-day simple moving average of $156.49 and a two-hundred day simple moving average of $152.81.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 quarter in the prior year, the business earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.14%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

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.