Delta Financial Advisors LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Delta Financial Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,379 shares of the oil and gas company’s stock after selling 170 shares during the period. Delta Financial Advisors LLC’s holdings in Chevron were worth $2,294,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P grew its position in Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares during the period. Axiom Financial Strategies LLC grew its position in Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares during the period. GQG Partners LLC grew its position in Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares during the period. Lumature Wealth Partners LLC grew its position in Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its position in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8 %

Shares of CVX traded up $1.24 on Thursday, hitting $157.64. 1,681,849 shares of the stock traded hands, compared to its average volume of 8,483,776. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $292.78 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.30 and a beta of 1.12. The stock’s 50 day moving average is $155.19 and its two-hundred day moving average is $151.86. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38.

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 for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.09 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Truist Financial lowered their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insiders Place Their Bets

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

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.