Howe & Rusling Inc. Sells 2,189 Shares of Chevron Co. (NYSE:CVX)

Howe & Rusling Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 47,596 shares of the oil and gas company’s stock after selling 2,189 shares during the quarter. Howe & Rusling Inc.’s holdings in Chevron were worth $6,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wallace Capital Management Inc. lifted its position in shares of Chevron by 0.8% during the third 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 in the last quarter. TFB Advisors LLC raised its stake in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its holdings in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Chevron by 0.4% in 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 in the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in Chevron by 0.5% during the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after buying an additional 67 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. 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. Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. UBS Group cut their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $167.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The firm has a market cap of $295.69 billion, a PE ratio of 17.28, a PEG ratio of 1.46 and a beta of 1.08. The firm has a fifty day moving average of $156.87 and a 200 day moving average of $153.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid 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 was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.07%. Chevron’s dividend payout ratio is presently 70.37%.

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.