AGF Management Ltd. Sells 3,415 Shares of Chevron Co. (NYSE:CVX)

AGF Management Ltd. decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,252 shares of the oil and gas company's stock after selling 3,415 shares during the period. AGF Management Ltd.'s holdings in Chevron were worth $4,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter valued at approximately $29,000. Fairway Wealth LLC increased its position in shares of Chevron by 75.9% during the fourth 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 in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $39,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX traded up $0.89 during trading hours on Thursday, reaching $153.56. 9,021,373 shares of the stock traded hands, compared to its average volume of 7,700,014. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company's 50-day moving average price is $154.85 and its two-hundred day moving average price is $151.92. The company has a market cap of $270.35 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

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Chevron (NYSE:CVX - Get Free Report) last released its 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 previous year, the firm posted $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.45%. Chevron's payout ratio is 70.37%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVX shares. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Raymond James dropped 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. Wells Fargo & Company dropped 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. Finally, Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and raised their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $174.13.

Insider Activity at Chevron

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