Chevron Co. (NYSE:CVX) Stake Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 685,029 shares of the oil and gas company’s stock after selling 12,819 shares during the period. Chevron makes up about 1.2% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 9th biggest position. Oppenheimer Asset Management Inc.’s holdings in Chevron were worth $99,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. WT Wealth Management bought a new position in Chevron in the 4th quarter worth $259,000. Flynn Zito Capital Management LLC increased its stake in Chevron by 7.8% during the 4th quarter. Flynn Zito Capital Management LLC now owns 3,123 shares of the oil and gas company’s stock valued at $452,000 after purchasing an additional 225 shares in the last quarter. Schnieders Capital Management LLC increased its stake in Chevron by 3.6% during the 4th quarter. Schnieders Capital Management LLC now owns 44,905 shares of the oil and gas company’s stock valued at $6,504,000 after purchasing an additional 1,570 shares in the last quarter. Apriem Advisors boosted its holdings in shares of Chevron by 35.5% during the 4th quarter. Apriem Advisors now owns 13,579 shares of the oil and gas company’s stock valued at $1,967,000 after acquiring an additional 3,560 shares during the last quarter. Finally, Lineweaver Wealth Advisors LLC boosted its holdings in shares of Chevron by 10.1% during the 4th quarter. Lineweaver Wealth Advisors LLC now owns 22,263 shares of the oil and gas company’s stock valued at $3,226,000 after acquiring an additional 2,050 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.9 %

CVX opened at $154.99 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. 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 business’s 50-day simple moving average is $152.52 and its 200-day simple moving average is $151.31.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 period in the previous year, the company earned $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.79 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 $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.41%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVX shares. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Truist Financial reduced their price target on shares of 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 restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, UBS Group reduced their price target 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. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In other Chevron 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 transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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.