Chevron Co. (NYSE:CVX) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. lessened its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 38.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,561 shares of the oil and gas company's stock after selling 34,553 shares during the quarter. Scotia Capital Inc.'s holdings in Chevron were worth $8,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. McIlrath & Eck LLC lifted its holdings in Chevron by 5.8% during the third quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock valued at $211,000 after purchasing an additional 78 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Chevron by 9.0% during the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock worth $503,000 after purchasing an additional 281 shares during the last quarter. Diamant Asset Management Inc. lifted its stake in Chevron by 6.2% in the 3rd quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock valued at $811,000 after buying an additional 320 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in Chevron in the 3rd quarter worth about $3,309,000. Finally, Wealthquest Corp increased its stake in Chevron by 2.3% during the 3rd quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock worth $782,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

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Chevron Trading Up 0.0 %

Shares of NYSE:CVX traded up $0.06 during midday trading on Tuesday, reaching $135.38. 3,835,636 shares of the company's stock were exchanged, compared to its average volume of 7,870,632. The stock has a market cap of $238.35 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm's 50 day simple moving average is $154.99 and its two-hundred day simple moving average is $153.82. 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 announced 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. Chevron's payout ratio is presently 70.37%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVX shares. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company lowered their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Tuesday. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.50.

Insiders Place Their Bets

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

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.