Chevron Co. (NYSE:CVX) is Edgar Lomax Co. VA’s 8th Largest Position

Edgar Lomax Co. VA lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,572 shares of the oil and gas company’s stock after selling 6,960 shares during the period. Chevron comprises 3.2% of Edgar Lomax Co. VA’s investment portfolio, making the stock its 8th biggest position. Edgar Lomax Co. VA’s holdings in Chevron were worth $49,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. McIlrath & Eck LLC increased its holdings in shares of Chevron by 5.8% in the third quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 78 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Chevron by 9.0% in the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 281 shares during the period. Diamant Asset Management Inc. grew its stake in shares of Chevron by 6.2% during the third quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company’s stock worth $811,000 after purchasing an additional 320 shares in the last quarter. Wealthquest Corp increased its stake in Chevron by 2.3% in the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company’s stock valued at $782,000 after purchasing an additional 118 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd grew its holdings in shares of Chevron by 4.5% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company’s stock worth $3,254,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.7 %

Shares of CVX stock opened at $137.68 on Friday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50 day moving average price is $153.54 and its two-hundred day moving average price is $153.42. The stock has a market cap of $242.39 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $169.50.

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.