Buckhead Capital Management LLC Lowers Position in Chevron Co. (NYSE:CVX)

Buckhead Capital Management LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 44,081 shares of the oil and gas company’s stock after selling 432 shares during the period. Chevron comprises 2.0% of Buckhead Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Buckhead Capital Management LLC’s holdings in Chevron were worth $6,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter worth $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $156.00 on Friday. The firm’s fifty day simple moving average is $151.92 and its two-hundred day simple moving average is $150.84. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market capitalization of $280.35 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company posted $3.45 EPS. As a group, analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is 67.08%.

Analyst Ratings Changes

A number of analysts have weighed in on CVX shares. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, Raymond James reduced their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.