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

Haverford Financial Services Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 49.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,861 shares of the oil and gas company's stock after selling 27,709 shares during the period. Chevron makes up approximately 1.3% of Haverford Financial Services Inc.'s portfolio, making the stock its 28th biggest holding. Haverford Financial Services Inc.'s holdings in Chevron were worth $4,180,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wallace Capital Management Inc. grew its position in shares of Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock worth $1,212,000 after buying an additional 65 shares in the last quarter. TFB Advisors LLC raised its holdings in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its stake in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after acquiring an additional 66 shares during the period. Parkside Financial Bank & Trust increased its position in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares during the period. Finally, Meridian Financial Partners LLC raised its holdings in shares of Chevron by 0.5% in the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock valued at $1,943,000 after purchasing an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Truist Financial cut their price objective 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. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Insider Activity

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 stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.01 during trading on Wednesday, hitting $167.95. The stock had a trading volume of 10,074,927 shares, compared to its average volume of 7,354,563. The stock has a 50-day simple moving average of $156.87 and a two-hundred day simple moving average of $153.11. The stock has a market capitalization of $295.69 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business earned $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.07%. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 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.