Chevron Co. (NYSE:CVX) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors decreased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 220,726 shares of the oil and gas company's stock after selling 25,521 shares during the period. Chevron accounts for approximately 1.6% of Davidson Investment Advisors' holdings, making the stock its 14th biggest holding. Davidson Investment Advisors' holdings in Chevron were worth $31,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its stake in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company's stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. grew its position in Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company's stock valued at $562,566,000 after acquiring an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, State Street Corp raised its stake in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX traded up $1.66 during mid-day trading on Thursday, reaching $158.89. 6,114,302 shares of the company's stock were exchanged, compared to its average volume of 7,327,336. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $151.82 and a two-hundred day simple moving average of $150.85. 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 $285.53 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 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. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. Chevron's payout ratio is presently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction 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 transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. UBS Group cut their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. 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 note on Tuesday, February 4th. Barclays cut their price target 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. 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 note on Monday, February 3rd. Finally, 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. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.13.

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.