Steph & Co. Has $724,000 Holdings in Chevron Co. (NYSE:CVX)

Steph & Co. cut its holdings in Chevron Co. (NYSE:CVX) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,855 shares of the oil and gas company’s stock after selling 357 shares during the period. Steph & Co.’s holdings in Chevron were worth $724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at $33,000. Worth Asset Management LLC bought a new position in shares of Chevron in the first quarter valued at $36,000. Finally, Legacy Financial Group LLC bought a new position in shares of Chevron in the third quarter valued at $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.8 %

CVX stock opened at $157.69 on Thursday. The company has a market cap of $292.87 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The business has a 50-day simple moving average of $155.19 and a 200 day simple moving average of $151.86. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.09 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVX shares. Wells Fargo & Company raised their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $183.55.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

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.