Migdal Insurance & Financial Holdings Ltd. Trims Stock Position in Chevron Co. (NYSE:CVX)

Migdal Insurance & Financial Holdings Ltd. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 48.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,109 shares of the oil and gas company’s stock after selling 1,061 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Chevron were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CVX. B & T Capital Management DBA Alpha Capital Management lifted its position in Chevron by 3.1% during the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 25,458 shares of the oil and gas company’s stock worth $3,749,000 after buying an additional 767 shares during the period. Strategic Advisors LLC increased its stake in Chevron by 0.8% during the third quarter. Strategic Advisors LLC now owns 23,256 shares of the oil and gas company’s stock worth $3,425,000 after acquiring an additional 182 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in Chevron by 3.2% during the third quarter. Pinnacle Bancorp Inc. now owns 11,722 shares of the oil and gas company’s stock worth $1,726,000 after acquiring an additional 360 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Chevron during the third quarter worth about $600,000. Finally, Private Advisory Group LLC acquired a new stake in Chevron during the third quarter worth about $247,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler dropped 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. UBS Group dropped 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. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $152.54 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50 day moving average price of $152.40 and a two-hundred day moving average price of $150.91. 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 firm has a market cap of $274.13 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 last year, the business posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 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.