Phoenix Financial Ltd. Sells 10,409 Shares of Chevron Co. (NYSE:CVX)

Phoenix Financial Ltd. lessened its stake in Chevron Co. (NYSE:CVX - Free Report) by 17.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,358 shares of the oil and gas company's stock after selling 10,409 shares during the quarter. Phoenix Financial Ltd.'s holdings in Chevron were worth $7,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CVX. Allianz SE bought a new stake in shares of Chevron during the fourth quarter worth approximately $9,369,000. Nicholas Company Inc. lifted its stake in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after buying an additional 3,280 shares during the period. Applied Finance Capital Management LLC boosted its holdings in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after buying an additional 2,755 shares during the last quarter. Cerity Partners LLC grew its holdings in Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after purchasing an additional 52,307 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in shares of Chevron during the fourth quarter worth about $594,000. 72.42% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

NYSE:CVX traded down $0.94 during trading on Monday, reaching $134.69. The company's stock had a trading volume of 3,802,414 shares, compared to its average volume of 7,863,684. The firm has a market cap of $237.14 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a 50 day moving average of $155.34 and a 200-day moving average of $153.90.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 firm earned $3.45 earnings per share. Research 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 was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 5.08%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Truist Financial lowered their price objective 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. 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 report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $160.00 to $143.00 in a research note on Friday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.20.

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.