Chevron Co. (NYSE:CVX) Shares Sold by Bell Investment Advisors Inc

Bell Investment Advisors Inc cut its holdings in shares of Chevron Co. (NYSE:CVX) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,872 shares of the oil and gas company’s stock after selling 219 shares during the quarter. Bell Investment Advisors Inc’s holdings in Chevron were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Enterprise Financial Services Corp boosted its position in Chevron by 1.2% during the fourth quarter. Enterprise Financial Services Corp now owns 7,571 shares of the oil and gas company’s stock worth $1,097,000 after acquiring an additional 88 shares during the last quarter. Sowell Financial Services LLC boosted its position in Chevron by 0.3% during the fourth quarter. Sowell Financial Services LLC now owns 80,436 shares of the oil and gas company’s stock worth $11,650,000 after acquiring an additional 202 shares during the last quarter. Argentarii LLC acquired a new position in Chevron in the 4th quarter valued at about $384,000. Kendall Capital Management boosted its holdings in Chevron by 18.5% in the 4th quarter. Kendall Capital Management now owns 2,118 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 330 shares during the last quarter. Finally, Coordinated Financial Services Inc. acquired a new position in Chevron in the 4th quarter valued at about $344,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $156.48 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50 day moving average price is $154.08 and its 200 day moving average price is $151.78. The company has a market cap of $275.51 billion, a P/E ratio of 16.10, a PEG ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results 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 in the previous year, the company earned $3.45 EPS. On average, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.37%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Raymond James decreased their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays decreased their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler decreased 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.