Haverford Trust Co Decreases Holdings in Chevron Co. (NYSE:CVX)

Haverford Trust Co reduced its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 949,346 shares of the oil and gas company's stock after selling 64,261 shares during the period. Chevron comprises 1.4% of Haverford Trust Co's portfolio, making the stock its 24th biggest position. Haverford Trust Co owned about 0.05% of Chevron worth $137,503,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the 3rd quarter worth $29,000. Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter valued at $31,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.7 %

Shares of CVX traded down $1.24 during mid-day trading on Thursday, hitting $166.73. 6,855,592 shares of the company traded hands, compared to its average volume of 7,354,966. The company has a market capitalization of $293.54 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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 business has a 50 day moving average of $157.01 and a 200 day moving average of $153.21. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

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Chevron (NYSE:CVX - Get Free Report) last issued 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 quarter last year, the business posted $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.10%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. 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. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and an average price target of $174.13.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

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.