Rhumbline Advisers Sells 57,175 Shares of Chevron Co. (NYSE:CVX)

Rhumbline Advisers lowered its position in Chevron Co. (NYSE:CVX) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,061,475 shares of the oil and gas company’s stock after selling 57,175 shares during the period. Rhumbline Advisers’ holdings in Chevron were worth $443,424,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. PUREfi Wealth LLC bought a new position in shares of Chevron during the 4th quarter valued at about $320,000. ABC Arbitrage SA acquired a new stake in Chevron during the 4th quarter worth approximately $240,000. Quadrant Private Wealth Management LLC lifted its stake in Chevron by 5.4% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 20,141 shares of the oil and gas company’s stock valued at $2,917,000 after buying an additional 1,035 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after buying an additional 2,641 shares during the period. Finally, DeDora Capital Inc. increased its position in shares of Chevron by 0.5% during the fourth quarter. DeDora Capital Inc. now owns 15,787 shares of the oil and gas company’s stock worth $2,287,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 0.4 %

Chevron stock opened at $155.32 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. The company’s 50-day moving average is $151.86 and its 200-day moving average is $150.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is 67.08%.

About Chevron

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.