Chevron Co. (NYSE:CVX) Stake Lessened by Violich Capital Management Inc.

Violich Capital Management Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,144 shares of the oil and gas company’s stock after selling 1,325 shares during the period. Chevron accounts for about 1.4% of Violich Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Violich Capital Management Inc.’s holdings in Chevron were worth $11,029,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mill Creek Capital Advisors LLC boosted its stake in Chevron by 33.5% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 4,954 shares of the oil and gas company’s stock valued at $718,000 after buying an additional 1,243 shares in the last quarter. MADDEN SECURITIES Corp lifted its holdings in Chevron by 5.0% in the 4th quarter. MADDEN SECURITIES Corp now owns 34,711 shares of the oil and gas company’s stock valued at $5,028,000 after acquiring an additional 1,644 shares during the last quarter. Sapient Capital LLC lifted its holdings in Chevron by 4.0% in the 4th quarter. Sapient Capital LLC now owns 312,152 shares of the oil and gas company’s stock valued at $45,212,000 after acquiring an additional 11,998 shares during the last quarter. Paladin Wealth LLC grew its stake in shares of Chevron by 10.6% in the 4th quarter. Paladin Wealth LLC now owns 7,134 shares of the oil and gas company’s stock worth $1,033,000 after purchasing an additional 684 shares during the last quarter. Finally, Pineridge Advisors LLC raised its holdings in shares of Chevron by 286.7% in the 4th quarter. Pineridge Advisors LLC now owns 1,253 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 929 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Truist Financial cut their target price on 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 dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Finally, Barclays lowered their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 2.1 %

Shares of CVX opened at $155.76 on Tuesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $279.91 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a 50-day moving average price of $152.21 and a two-hundred day moving average price of $150.82. 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 (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period last year, the business posted $3.45 earnings per share. Equities analysts predict that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.39%. Chevron’s dividend payout ratio is presently 67.08%.

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.