Cypress Capital Group Sells 5,204 Shares of Chevron Co. (NYSE:CVX)

Cypress Capital Group lowered its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,876 shares of the oil and gas company's stock after selling 5,204 shares during the period. Cypress Capital Group's holdings in Chevron were worth $6,645,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter worth about $29,000. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Raymond James cut their price objective on 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 cut their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $174.13.

Chevron Stock Down 0.7 %

NYSE:CVX traded down $1.07 during mid-day trading on Wednesday, reaching $150.93. The stock had a trading volume of 9,287,527 shares, compared to its average volume of 7,447,005. The business's 50 day moving average is $153.65 and its 200 day moving average is $151.61. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The stock has a market cap of $265.73 billion, a P/E ratio of 15.53, a PEG ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 last year, the company posted $3.45 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.53%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Chevron Company 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.