Chevron Co. (NYSE:CVX) Shares Sold by Lodestar Private Asset Management LLC

Lodestar Private Asset Management LLC cut its stake in Chevron Co. (NYSE:CVX) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,098 shares of the oil and gas company’s stock after selling 187 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Chevron were worth $2,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Picton Mahoney Asset Management acquired a new stake in shares of Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron during the 3rd quarter worth about $35,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $36,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $183.60.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $158.96 on Friday. The stock has a 50-day simple moving average of $154.92 and a 200-day simple moving average of $152.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market capitalization of $295.23 billion, a PE ratio of 13.99, a PEG ratio of 2.40 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.09 EPS. On average, analysts predict that Chevron Co. will post 13.24 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron’s payout ratio is presently 57.39%.

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.