Chevy Chase Trust Holdings LLC Sells 35,054 Shares of Chevron Co. (NYSE:CVX)

Chevy Chase Trust Holdings LLC reduced its stake in Chevron Co. (NYSE:CVX) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 894,450 shares of the oil and gas company’s stock after selling 35,054 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Chevron were worth $129,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Campbell Wealth Management raised its holdings in Chevron by 181.3% during the fourth quarter. Campbell Wealth Management now owns 5,907 shares of the oil and gas company’s stock valued at $856,000 after acquiring an additional 3,807 shares during the period. Asset Planning Inc bought a new stake in Chevron during the fourth quarter valued at about $1,297,000. Nova R Wealth Inc. raised its holdings in Chevron by 2.3% during the fourth quarter. Nova R Wealth Inc. now owns 4,375 shares of the oil and gas company’s stock valued at $634,000 after acquiring an additional 97 shares during the period. W.H. Cornerstone Investments Inc. raised its holdings in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 66 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in Chevron by 23.0% during the fourth quarter. V Square Quantitative Management LLC now owns 11,043 shares of the oil and gas company’s stock valued at $1,599,000 after acquiring an additional 2,066 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Finally, Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 0.7 %

Shares of NYSE CVX opened at $156.00 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $280.35 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.11. The stock has a 50 day moving average price of $151.92 and a 200 day moving average price of $150.84. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 previous year, the business posted $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. Chevron’s payout ratio is presently 67.08%.

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.