Hoertkorn Richard Charles Sells 200 Shares of Chevron Co. (NYSE:CVX)

Hoertkorn Richard Charles lessened its position in shares of Chevron Co. (NYSE:CVX) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,547 shares of the oil and gas company’s stock after selling 200 shares during the period. Chevron makes up approximately 0.9% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 23rd largest position. Hoertkorn Richard Charles’ holdings in Chevron were worth $2,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alerus Financial NA raised its position in shares of Chevron by 1.2% in the 4th quarter. Alerus Financial NA now owns 58,289 shares of the oil and gas company’s stock worth $8,443,000 after acquiring an additional 664 shares in the last quarter. Vertex Planning Partners LLC boosted its stake in Chevron by 4.0% during the fourth quarter. Vertex Planning Partners LLC now owns 3,547 shares of the oil and gas company’s stock valued at $514,000 after buying an additional 135 shares during the period. Slagle Financial LLC lifted its position in Chevron by 2.7% in the 4th quarter. Slagle Financial LLC now owns 17,736 shares of the oil and gas company’s stock worth $2,569,000 after buying an additional 470 shares during the last quarter. denkapparat Operations GmbH bought a new position in shares of Chevron in the fourth quarter worth approximately $421,000. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Chevron by 1.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 995,798 shares of the oil and gas company’s stock valued at $144,231,000 after buying an additional 12,910 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $166.73 on Friday. The stock has a market cap of $293.54 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $168.96. The business has a fifty day moving average of $157.01 and a two-hundred day moving average of $153.21.

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 analysts’ consensus estimates 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 quarter last year, the company posted $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target 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.