Haverford Trust Co Sells 64,261 Shares of Chevron Co. (NYSE:CVX)

Haverford Trust Co cut its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 949,346 shares of the oil and gas company’s stock after selling 64,261 shares during the period. Chevron accounts for 1.4% of Haverford Trust Co’s holdings, making the stock its 24th largest position. Haverford Trust Co’s holdings in Chevron were worth $137,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc bought a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the third quarter worth $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Down 0.2 %

CVX opened at $164.37 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $156.29 and its 200 day simple moving average is $152.64. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $289.39 billion, a PE ratio of 16.91, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its quarterly 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 quarter in the prior year, the company earned $3.45 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.