F&V Capital Management LLC Sells 185 Shares of Chevron Co. (NYSE:CVX)

F&V Capital Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.1% in the fourth quarter, Holdings Channel reports. The fund owned 126,681 shares of the oil and gas company’s stock after selling 185 shares during the period. Chevron accounts for 4.8% of F&V Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. F&V Capital Management LLC’s holdings in Chevron were worth $18,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. GEN Financial Management INC. bought a new position in shares of Chevron in the fourth quarter worth about $209,000. Fourpath Capital Management LLC grew its holdings in Chevron by 1.5% in the 4th quarter. Fourpath Capital Management LLC now owns 52,776 shares of the oil and gas company’s stock valued at $7,644,000 after buying an additional 764 shares during the last quarter. Optas LLC bought a new position in Chevron in the 4th quarter worth approximately $321,000. Hodges Capital Management Inc. lifted its holdings in shares of Chevron by 1.1% during the fourth quarter. Hodges Capital Management Inc. now owns 7,731 shares of the oil and gas company’s stock worth $1,120,000 after buying an additional 84 shares during the last quarter. Finally, EQ Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $288,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays upped their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.60.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.1 %

CVX opened at $149.39 on Tuesday. The firm has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50-day simple moving average is $153.19 and its 200-day simple moving average is $151.02. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

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.