Chevron Co. (NYSE:CVX) Stock Position Trimmed by Congress Asset Management Co.

Congress Asset Management Co. lowered its holdings in Chevron Co. (NYSE:CVX - Free Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,408 shares of the oil and gas company's stock after selling 4,522 shares during the period. Congress Asset Management Co.'s holdings in Chevron were worth $11,936,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Barclays dropped their price objective 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. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. UBS Group lowered 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. Finally, Piper Sandler lowered their price target 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. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus price target of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Chevron Stock Up 0.6 %

NYSE CVX traded up $0.98 during trading hours on Wednesday, reaching $157.14. 4,943,291 shares of the company traded hands, compared to its average volume of 7,423,915. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $282.39 billion, a PE ratio of 16.17, a PEG ratio of 1.43 and a beta of 1.11. The company has a 50 day moving average of $151.82 and a two-hundred day moving average of $150.85.

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 (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 quarter in the prior year, the company earned $3.45 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. 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 dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, February 14th. Chevron's dividend payout ratio (DPR) is presently 70.37%.

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.