Chevron Co. (NYSE:CVX) Shares Sold by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. decreased its holdings in Chevron Co. (NYSE:CVX) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 643,277 shares of the oil and gas company’s stock after selling 15,437 shares during the quarter. Chevron accounts for approximately 1.9% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 17th largest position. Lazard Freres Gestion S.A.S.’s holdings in Chevron were worth $93,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. HBK Sorce Advisory LLC boosted its stake in Chevron by 1.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 38,996 shares of the oil and gas company’s stock valued at $5,648,000 after buying an additional 598 shares in the last quarter. LFA Lugano Financial Advisors SA boosted its position in shares of Chevron by 45.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 480 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 150 shares during the period. Mascoma Wealth Management LLC boosted its position in shares of Chevron by 5.2% in the 4th quarter. Mascoma Wealth Management LLC now owns 1,858 shares of the oil and gas company’s stock valued at $269,000 after purchasing an additional 92 shares during the period. Essential Planning LLC. purchased a new stake in Chevron in the 4th quarter worth about $5,898,000. Finally, Liberty Wealth Management LLC lifted its stake in Chevron by 0.8% in the 4th quarter. Liberty Wealth Management LLC now owns 22,326 shares of the oil and gas company’s stock worth $3,234,000 after acquiring an additional 187 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVX shares. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 0.9 %

CVX opened at $152.63 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. The business has a 50 day moving average price of $154.71 and a 200 day moving average price of $151.91. The firm has a market cap of $268.72 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company earned $3.45 earnings per share. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is currently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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 directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company 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.