Mraz Amerine & Associates Inc. Trims Stake in Chevron Co. (NYSE:CVX)

Mraz Amerine & Associates Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 9.5% during the 4th quarter, HoldingsChannel reports. The firm owned 7,684 shares of the oil and gas company’s stock after selling 807 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Chevron were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its holdings in shares of Chevron by 14.3% in the 4th quarter. Venturi Wealth Management LLC now owns 33,219 shares of the oil and gas company’s stock valued at $4,811,000 after buying an additional 4,164 shares during the period. D.A. Davidson & CO. raised its position in shares of Chevron by 5.2% during the 4th quarter. D.A. Davidson & CO. now owns 387,891 shares of the oil and gas company’s stock worth $56,182,000 after purchasing an additional 19,114 shares during the last quarter. Citizens & Northern Corp lifted its position in shares of Chevron by 12.6% in the fourth quarter. Citizens & Northern Corp now owns 8,820 shares of the oil and gas company’s stock valued at $1,277,000 after acquiring an additional 990 shares in the last quarter. Empower Advisory Group LLC boosted its position in Chevron by 3.9% during the fourth quarter. Empower Advisory Group LLC now owns 723,003 shares of the oil and gas company’s stock worth $104,720,000 after acquiring an additional 26,974 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Chevron by 2.2% in the 4th quarter. Truist Financial Corp now owns 1,645,689 shares of the oil and gas company’s stock valued at $238,362,000 after buying an additional 36,185 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.4 %

Chevron stock opened at $155.32 on Tuesday. The company has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm’s fifty day simple moving average is $151.86 and its 200-day simple moving average is $150.73. 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 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm posted $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. 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 yield of 4.40%. Chevron’s payout ratio is currently 67.08%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 1,057 shares in the company, 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. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.