Chevron Co. (NYSE:CVX) Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. lowered its position in Chevron Co. (NYSE:CVX) by 24.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,330 shares of the oil and gas company’s stock after selling 44,070 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Chevron were worth $19,746,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVX. Czech National Bank raised its position in shares of Chevron by 6.1% during the 3rd quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock worth $51,028,000 after purchasing an additional 19,878 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Chevron by 1.4% in the third quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock worth $3,933,000 after acquiring an additional 372 shares during the last quarter. Heartwood Wealth Advisors LLC raised its stake in Chevron by 4.4% in the 3rd quarter. Heartwood Wealth Advisors LLC now owns 6,187 shares of the oil and gas company’s stock valued at $911,000 after purchasing an additional 263 shares during the last quarter. Chapin Davis Inc. lifted its stake in shares of Chevron by 4.9% during the third quarter. Chapin Davis Inc. now owns 31,752 shares of the oil and gas company’s stock valued at $4,676,000 after buying an additional 1,491 shares during the period. Finally, Exeter Financial LLC boosted its holdings in shares of Chevron by 0.6% during the third quarter. Exeter Financial LLC now owns 25,943 shares of the oil and gas company’s stock worth $3,821,000 after purchasing an additional 167 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 2.5 %

Chevron stock opened at $153.14 on Wednesday. The company has a 50 day moving average of $152.97 and a 200-day moving average of $150.93. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market capitalization of $275.20 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 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 period last year, the firm earned $3.45 EPS. On average, equities research analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 67.08%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Citigroup upgraded shares of 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 report on Tuesday, November 26th. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.33.

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.