Fortis Capital Advisors LLC Sells 185 Shares of Chevron Co. (NYSE:CVX)

Fortis Capital Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,549 shares of the oil and gas company’s stock after selling 185 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Chevron were worth $377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the period. Norges Bank bought a new stake in shares of Chevron in the fourth quarter worth about $3,017,750,000. Fisher Asset Management LLC increased its holdings in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after purchasing an additional 410,460 shares during the period. Finally, Franklin Resources Inc. raised its position in Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock valued at $2,502,850,000 after purchasing an additional 79,917 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.4 %

Shares of NYSE:CVX opened at $135.49 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $155.34 and a two-hundred day simple moving average of $153.81. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $238.54 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last posted 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $160.00 to $143.00 in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $172.20.

Chevron 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.