Easterly Investment Partners LLC Lowers Position in Chevron Co. (NYSE:CVX)

Easterly Investment Partners LLC cut its holdings in Chevron Co. (NYSE:CVX) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,606 shares of the oil and gas company’s stock after selling 10,665 shares during the quarter. Easterly Investment Partners LLC’s holdings in Chevron were worth $5,881,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. Nicholas Company Inc. raised its stake in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new position in Chevron during the 4th quarter worth $594,000. Unified Investment Management purchased a new stake in shares of Chevron in the 4th quarter worth $729,000. Finally, ING Groep NV increased its stake in shares of Chevron by 3,942.6% during the fourth quarter. ING Groep NV now owns 200,998 shares of the oil and gas company’s stock valued at $29,113,000 after buying an additional 196,026 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVX. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. 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. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 1.2 %

Shares of Chevron stock opened at $167.95 on Thursday. The company has a 50-day moving average of $156.87 and a two-hundred day moving average of $153.11. The stock has a market cap of $295.69 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. 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 data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $3.45 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 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.