Krane Funds Advisors LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Krane Funds Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,926 shares of the oil and gas company’s stock after selling 247 shares during the quarter. Krane Funds Advisors LLC’s holdings in Chevron were worth $279,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TFB Advisors LLC boosted its stake in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. raised its holdings in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 66 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares during the last quarter. Meridian Financial Partners LLC grew its position in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after acquiring an additional 67 shares during the period. Finally, Western Pacific Wealth Management LP boosted its stake in Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after buying an additional 67 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 8.3 %

Shares of NYSE CVX opened at $143.10 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96. The business has a 50 day simple moving average of $157.38 and a 200 day simple moving average of $154.25. The stock has a market cap of $251.95 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $3.45 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVX shares. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% 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.