Ieq Capital LLC Sells 7,880 Shares of Chevron Co. (NYSE:CVX)

Ieq Capital LLC reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,600 shares of the oil and gas company's stock after selling 7,880 shares during the period. Ieq Capital LLC's holdings in Chevron were worth $13,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. SNS Financial Group LLC acquired a new stake in shares of Chevron in the 4th quarter worth approximately $210,000. Private Wealth Partners LLC raised its holdings in shares of Chevron by 2.8% in the 4th quarter. Private Wealth Partners LLC now owns 196,308 shares of the oil and gas company's stock worth $28,433,000 after purchasing an additional 5,269 shares in the last quarter. Sterling Financial Planning Inc. raised its holdings in shares of Chevron by 16.3% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,866 shares of the oil and gas company's stock worth $270,000 after purchasing an additional 262 shares in the last quarter. Parthenon LLC raised its holdings in shares of Chevron by 1.3% in the 4th quarter. Parthenon LLC now owns 11,701 shares of the oil and gas company's stock worth $1,695,000 after purchasing an additional 150 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Chevron by 65.2% in the 4th quarter. Private Advisor Group LLC now owns 394,608 shares of the oil and gas company's stock worth $57,155,000 after purchasing an additional 155,798 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

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. The stock's 50 day moving average price is $151.97 and its 200-day moving average price is $151.05. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 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 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company earned $3.45 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron's payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $174.13.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.