Obermeyer Wood Investment Counsel Lllp Has $19.36 Million Position in Chevron Co. (NYSE:CVX)

Obermeyer Wood Investment Counsel Lllp cut its position in shares of Chevron Co. (NYSE:CVX) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 129,781 shares of the oil and gas company’s stock after selling 5,401 shares during the quarter. Chevron comprises 1.3% of Obermeyer Wood Investment Counsel Lllp’s portfolio, making the stock its 28th biggest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in Chevron were worth $19,358,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Windsor Advisory Group LLC boosted its holdings in shares of Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares during the period. Renaissance Investment Group LLC grew its stake in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the last quarter. Altrius Capital Management Inc grew its stake in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new position in Chevron in the 4th quarter valued at about $254,000. Finally, Strategic Financial Concepts LLC grew its stake in Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. Truist Financial decreased their target price 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. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Price Performance

CVX stock traded up $2.57 during midday trading on Friday, reaching $160.14. The company had a trading volume of 1,409,472 shares, compared to its average volume of 8,431,626. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38. The company has a market capitalization of $297.42 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.36 and a beta of 1.12. The firm has a 50-day moving average price of $155.26 and a 200-day moving average price of $151.90.

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 analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the company earned $4.09 EPS. The firm’s revenue was down 16.5% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 13.27 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. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio is currently 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.