Cable Hill Partners LLC Sells 1,244 Shares of Chevron Co. (NYSE:CVX)

Cable Hill Partners LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 5,829 shares of the oil and gas company’s stock after selling 1,244 shares during the quarter. Cable Hill Partners LLC’s holdings in Chevron were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter valued at $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter valued at about $31,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

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

Chevron Price Performance

Chevron stock opened at $154.99 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 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market capitalization of $278.53 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The stock has a fifty day moving average of $152.52 and a 200-day moving average of $151.31.

Chevron (NYSE:CVX) last issued its earnings results 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 period last year, the company posted $3.45 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.41%. Chevron’s dividend payout ratio is presently 70.37%.

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.