Rockefeller Capital Management L.P. Sells 73,591 Shares of Chevron Co. (NYSE:CVX)

Rockefeller Capital Management L.P. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,048,170 shares of the oil and gas company’s stock after selling 73,591 shares during the quarter. Rockefeller Capital Management L.P. owned 0.06% of Chevron worth $151,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allianz SE purchased a new stake in Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. raised its stake in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after purchasing an additional 52,307 shares during the period. Applied Finance Capital Management LLC grew its stake in Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after purchasing an additional 2,755 shares in the last quarter. Finally, Dale Q Rice Investment Management Ltd purchased a new position in Chevron during the 4th quarter worth $594,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade 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. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.4 %

Chevron stock opened at $135.49 on Friday. The business has a fifty day moving average price of $155.34 and a 200-day moving average price of $153.81. Chevron Co. has a 1-year low of $132.04 and a 1-year 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. 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 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 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 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal 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. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVX shares. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $160.00 to $143.00 in a report on Friday. UBS Group dropped their target price 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. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $172.20.

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.