Philadelphia Trust Co. Sells 1,465 Shares of Chevron Co. (NYSE:CVX)

Philadelphia Trust Co. reduced its position in Chevron Co. (NYSE:CVX) by 8.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,253 shares of the oil and gas company’s stock after selling 1,465 shares during the period. Philadelphia Trust Co.’s holdings in Chevron were worth $2,354,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new position in Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter worth about $29,000. Fairway Wealth LLC increased its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $39,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVX shares. 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. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $172.20.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of CVX opened at $135.49 on Friday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $238.54 billion, a PE ratio of 13.94, a PEG ratio of 1.46 and a beta of 0.93. The company’s 50-day moving average is $155.34 and its 200-day moving average is $153.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released 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 last year, the company earned $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 5.05%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.