DT Investment Partners LLC Sells 3,885 Shares of Chevron Co. (NYSE:CVX)

DT Investment Partners LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 18.9% in the fourth quarter, HoldingsChannel reports. The fund owned 16,693 shares of the oil and gas company’s stock after selling 3,885 shares during the quarter. DT Investment Partners LLC’s holdings in Chevron were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CVX. Wedge Capital Management L L P NC grew its position in shares of Chevron by 4.3% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after acquiring an additional 120 shares during the period. McKinley Carter Wealth Services Inc. boosted its holdings in Chevron by 1.9% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 21,121 shares of the oil and gas company’s stock worth $3,110,000 after buying an additional 401 shares during the period. Vontobel Holding Ltd. boosted its holdings in Chevron by 6.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 162,083 shares of the oil and gas company’s stock worth $23,870,000 after buying an additional 10,508 shares during the period. Firethorn Wealth Partners LLC boosted its holdings in Chevron by 2.1% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 4,120 shares of the oil and gas company’s stock worth $607,000 after buying an additional 85 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Chevron by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 36,338 shares of the oil and gas company’s stock worth $5,351,000 after buying an additional 103 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.00 on Friday. The company has a market capitalization of $280.35 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm’s 50-day moving average is $151.92 and its 200 day moving average is $150.84. 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 issued its quarterly 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 EPS. Research analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.38%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.