Bryn Mawr Capital Management LLC Has $2.84 Million Stock Position in Chevron Co. (NYSE:CVX)

Bryn Mawr Capital Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 76.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,593 shares of the oil and gas company's stock after selling 62,982 shares during the period. Bryn Mawr Capital Management LLC's holdings in Chevron were worth $2,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the period. Fisher Asset Management LLC boosted its stake in Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock valued at $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Franklin Resources Inc. grew its holdings in Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Chevron by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company's stock worth $1,147,359,000 after acquiring an additional 138,496 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Down 1.2 %

CVX traded down $1.87 on Friday, reaching $156.92. 6,686,883 shares of the company traded hands, compared to its average volume of 6,690,703. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. The stock's 50 day moving average price is $151.97 and its 200-day moving average price is $150.99.

Chevron (NYSE:CVX - Get Free Report) last posted 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 quarter last year, the company earned $3.45 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron's payout ratio 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.