BLB&B Advisors LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

BLB&B Advisors LLC lowered its stake in Chevron Co. (NYSE:CVX) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,651 shares of the oil and gas company’s stock after selling 1,617 shares during the quarter. Chevron comprises approximately 0.9% of BLB&B Advisors LLC’s holdings, making the stock its 27th largest holding. BLB&B Advisors LLC’s holdings in Chevron were worth $18,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Tacita Capital Inc lifted its position 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 acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. raised its stake in Chevron by 0.8% during 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 purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares in the last quarter. S.A. Mason LLC boosted its position in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the period. Finally, Jag Capital Management LLC grew its holdings in shares of Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $152.54 on Friday. The firm has a market cap of $274.13 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The stock’s 50-day moving average is $152.40 and its two-hundred day moving average is $150.91. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVX. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Chevron

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 completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Company 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.