Private Management Group Inc. Cuts Position in Chevron Co. (NYSE:CVX)

Private Management Group Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,035 shares of the oil and gas company’s stock after selling 230 shares during the quarter. Private Management Group Inc.’s holdings in Chevron were worth $900,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings 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 valued at $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc grew its stake in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.4 %

NYSE CVX traded up $0.72 on Wednesday, reaching $163.57. The stock had a trading volume of 7,580,847 shares, compared to its average volume of 8,423,676. The business has a 50 day moving average price of $155.88 and a 200 day moving average price of $151.66. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a market capitalization of $303.79 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its 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. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal 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 given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays initiated coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Wells Fargo & Company boosted their price objective on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Six 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.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insiders Place Their Bets

In related 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 approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.