Chevron Co. (NYSE:CVX) Stock Position Decreased by Asset Dedication LLC

Asset Dedication LLC reduced its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 26.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,933 shares of the oil and gas company's stock after selling 5,953 shares during the period. Asset Dedication LLC's holdings in Chevron were worth $2,453,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Deane Retirement Strategies Inc. raised its stake in shares of Chevron by 1.1% during the 4th quarter. Deane Retirement Strategies Inc. now owns 21,513 shares of the oil and gas company's stock valued at $3,116,000 after purchasing an additional 226 shares during the period. Fulton Breakefield Broenniman LLC grew its position in shares of Chevron by 1.1% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 94,400 shares of the oil and gas company's stock valued at $13,673,000 after purchasing an additional 1,028 shares in the last quarter. Capital Investment Counsel LLC grew its position in shares of Chevron by 1.4% during the 4th quarter. Capital Investment Counsel LLC now owns 75,538 shares of the oil and gas company's stock valued at $10,941,000 after purchasing an additional 1,030 shares in the last quarter. NorthStar Asset Management LLC NJ raised its position in shares of Chevron by 3.2% in the fourth quarter. NorthStar Asset Management LLC NJ now owns 3,961 shares of the oil and gas company's stock worth $574,000 after buying an additional 123 shares in the last quarter. Finally, Mayflower Financial Advisors LLC boosted its stake in Chevron by 24.8% during the fourth quarter. Mayflower Financial Advisors LLC now owns 21,585 shares of the oil and gas company's stock valued at $3,126,000 after buying an additional 4,289 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Chevron stock traded up $0.50 during midday trading on Thursday, reaching $156.19. The company had a trading volume of 6,924,269 shares, compared to its average volume of 7,585,947. 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market capitalization of $280.68 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.37 and a beta of 1.12. The firm's fifty day simple moving average is $153.56 and its 200-day simple moving average is $151.16.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.05 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron's dividend payout ratio (DPR) is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Truist Financial raised their price target on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Finally, Raymond James raised their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

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.