Chevron Co. (NYSE:CVX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,373 shares of the oil and gas company's stock after selling 19,109 shares during the quarter. Chevron comprises about 0.4% of Corebridge Financial Inc.'s portfolio, making the stock its 28th biggest holding. Corebridge Financial Inc.'s holdings in Chevron were worth $66,825,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Congress Wealth Management LLC DE lifted its position in Chevron by 0.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company's stock worth $19,314,000 after buying an additional 785 shares in the last quarter. Clune & Associates LTD. purchased a new position in shares of Chevron during the 4th quarter worth $367,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Chevron during the 4th quarter valued at about $3,947,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $219,000. Finally, Community Bank N.A. increased its position in Chevron by 1.1% during the fourth quarter. Community Bank N.A. now owns 34,213 shares of the oil and gas company's stock worth $4,955,000 after purchasing an additional 365 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm'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 transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company's stock, 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 can be accessed through this link. 0.20% of the stock is owned by company insiders.

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Chevron Stock Up 0.6 %

Shares of Chevron stock traded up $0.91 during trading hours on Tuesday, reaching $165.93. 7,865,154 shares of the company were exchanged, compared to its average volume of 7,337,986. The firm has a market cap of $292.14 billion, a PE ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. 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 1 year low of $135.37 and a 1 year high of $167.11. The stock's fifty day moving average is $156.49 and its 200 day moving average is $152.81.

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 net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 earnings per share. As a group, equities research analysts forecast 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 was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Wells Fargo & Company decreased 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 lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

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.