Chevron Co. (NYSE:CVX) Shares Sold by Cypress Capital Group

Cypress Capital Group decreased its stake in Chevron Co. (NYSE:CVX) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,876 shares of the oil and gas company’s stock after selling 5,204 shares during the period. Cypress Capital Group’s holdings in Chevron were worth $6,645,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Tacita Capital Inc boosted its holdings in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 65 shares in the last quarter. Wallace Capital Management Inc. boosted its holdings in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares in the last quarter. TFB Advisors LLC boosted its holdings in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its stake in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.7 %

Shares of Chevron stock opened at $151.99 on Wednesday. The firm has a fifty day moving average of $153.51 and a two-hundred day moving average of $151.61. 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 company has a market cap of $267.59 billion, a P/E ratio of 15.64, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a one year low of $135.37 and a one year 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 quarter in the previous year, the company posted $3.45 earnings per share. On average, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared 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 represents a $6.84 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date 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%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.