Vaughan Nelson Investment Management L.P. Sells 3,640 Shares of Chevron Corporation $CVX

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 43.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,815 shares of the oil and gas company’s stock after selling 3,640 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Chevron were worth $734,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $34,000. Marquette Asset Management LLC bought a new stake in Chevron in the third quarter valued at $41,000. Barnes Dennig Private Wealth Management LLC raised its stake in Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 202 shares in the last quarter. Evolution Wealth Management Inc. bought a new position in shares of Chevron during the second quarter valued at $49,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Chevron during the third quarter valued at $49,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley and other analysts have recently raised targets and reiterated buy ratings (Morgan Stanley lifted a price target toward ~$212), supporting upside expectations and income-focused investor interest. Chevron (CVX) Price Target Raised to $212
• Positive Sentiment: Macro/sector momentum: oil posted historic monthly gains and the energy sector is a top performer, which boosts Chevron’s revenue/profit outlook and explains strong investor interest. Oil Prices Post Biggest Monthly Surge in History
• Positive Sentiment: Strategic deals and geographic expansion: Chevron announced a partnership with Libya’s National Oil Corporation to assess offshore potential, which could unlock reserves and long?term production growth. Chevron Partners With Libya’s NOC to Unlock Offshore Potential
• Neutral Sentiment: Large?cap investor activity: filings and coverage show Berkshire Hathaway/Buffett increasing exposure to oil names including Chevron in recent periods — a credibility boost but not an immediate price driver. Warren Buffett Went Out With a Bang by Selling 50% of His Bank of America Stake and Piling Into One of the Hottest Oil Stocks on Wall Street
• Neutral Sentiment: Power supply talks: Chevron signed an exclusivity agreement with Microsoft and Engine No. 1 on power generation/supply options in Texas — this signals diversification into power contracts but timing and returns are uncertain. Microsoft, Chevron and Engine No. 1 sign exclusive deal for power supply
• Negative Sentiment: Operational hit: downstream assets at the Wheatstone LNG facility in Western Australia suffered extensive cyclone damage and the plant has been offline for weeks, tightening LNG supply and creating near?term earnings and delivery uncertainty. This is the primary near?term headwind pressuring CVX. Chevron’s downstream assets at Wheatstone gas facility suffer extensive damage due to cyclone
• Negative Sentiment: Regulatory/regional risk: Chevron warned it may have to close some California gas plants amid state policy pressures — a longer?term operational and reputational risk that adds to investor caution. ‘We Won’t Be Able To Make It’ — After 140 Years In California, Chevron May Have To Close Its Gas Plants As State Plays ‘Dangerous Game’

Chevron Price Performance

Shares of CVX stock opened at $206.81 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $412.67 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.67 and a beta of 0.67. The firm’s 50 day moving average is $187.24 and its 200-day moving average is $165.98. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter in the previous year, the company posted $2.06 EPS. Chevron’s revenue was down 10.2% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron’s dividend payout ratio is presently 106.91%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 320,700 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares in the company, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Sanford C. Bernstein upped their target price on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Mizuho raised their price objective on shares of Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Citigroup lifted their target price on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $186.50.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.